Hohhot records consecutive growth in foreign trade

A night view of Hohhot, Inner Mongolia. [Photo/Hohhot news network]

In 2023, Hohhot's total foreign trade import and export value reached 19.44 billion yuan ($2.71 billion), a 6.2-percent year-on-year increase. Since 2019, the city has seen "five consecutive increases" in its foreign trade import and export value, maintaining a stable growth trend.

In 2023, the city's export value reached 11.81 billion yuan, marking a 26.6-percent increase, while its import value totaling at 7.63 billion yuan, a 14.9-percent decrease compared to the previous year. In December 2023, the city's monthly import and export trade value reached 3.92 billion yuan, representing a year-on-year and month-on-month increase of 186 percent and 154.4 percent, respectively.

In terms of import and export commodities, agricultural products dominated imports, accounting for 40.3 billion yuan, or 52.8 percent of the city's total import value. Meanwhile, exports were primarily comprised of electromechanical and high-tech products, totaling 4.16 billion yuan, representing 21.4 percent of Hohhot's total export value. In 2023, the United States was Hohhot's largest trading partner, with an import and export value of 2.95 billion yuan, accounting for 15.2 percent of the city's total.

Looking ahead, Hohhot customs will adopt a more pragmatic approach to promote stable, scaled, and optimized foreign trade, thus promoting the development of Hohhot's foreign trade economy.