Inner Mongolia's foreign trade surges by 30.4% in 2023

In 2023, the total value of imports and exports in North China's Inner Mongolia autonomous region reached 196.53 billion yuan ($26.92 billion), hitting a historic high and marking a 30.4 percent year-on-year increase.

This growth rate surpassed the national average, which sits at an increase of 30.2 percentage points, positioning Inner Mongolia as the third fastest-growing region in China in terms of foreign trade.

Specifically, the region's exports amounted to 78.57 billion yuan, showing a 28.1 percent increase, while its imports reached 117.96 billion yuan, reflecting a 32 percent surge.

The region's imports and exports with countries participating in the Belt and Road Initiative amounted to 152.21 billion yuan, marking a 40.9 percent increase. This accounted for 77.4 percent of Inner Mongolia’s total value of imports and exports during the same period.

Additionally, as the domestic manufacturing industry continued its steady recovery, the substantial increase in the import of bulk commodities has significantly contributed to a 20.4 percentage point boost in the region's overall foreign trade growth.

The number of enterprises engaged in import and export business in the region reached 3,266 in 2023, an increase of 623 from the previous year.