Shanxi's foreign trade growth rate ranks fourth in Jan-May

The total import and export value of North China's Shanxi province in the first five months of this year reached 73.82 billion yuan ($10.17 billion), a year-on-year increase of 22.7 percent, with the growth rate ranking fourth in the country, according to the data released by Taiyuan Customs on June 13.

Shanxi saw a double-digit increase in trade with the United States, ASEAN, European Union, and Australia, which were the province's top four trading partners in the first five months of this year and accounted for nearly 60 percent of its total foreign trade value.

Over the same period, foreign trade with countries involved in the Belt and Road Initiative reached 34.2 billion yuan in value, an increase of more than 20 percent and accounting for nearly 50 percent of the total import and export value of the province. Foreign trade with other RCEP member countries reached 23.53 billion yuan, representing an increase of over 10 percent and accounting for over 30 percent of the province's import and export value.

Among the main export commodities, mobile phones and parts, solar cells, rail transit equipment, and coal were the main engines driving growth. In the first five months, exports of mobile phones and mobile phone parts both increased by more than 30 percent, bringing the province's total export growth rate up by 20.9 percentage points.

Among the main imported commodities, various types of metal ore, coal and integrated circuits were the main engines driving growth, respectively increasing by over 60 percent, over 60 percent and over 10 percent in the first five months.