Quzhou's foreign trade up 12.6% in Jan-May

The imports and exports of Quzhou, Zhejiang province stood at 30.43 billion yuan ($4.19 billion) from January to May this year, marking a 12.6 percent increase compared to the same period last year, according to Quzhou Customs.

Exports of mechanical and electrical products, as well as labor-intensive products, experienced significant growth, with each surpassing 50 percent. Specifically, Quzhou exported 6.94 billion yuan worth of mechanical and electrical products, a 59.1 percent increase, and 2.17 billion yuan worth of labor-intensive products, a 54.3 percent increase.

The city's exports to South Korea surged to 3.6 billion yuan, reversing a previous decline with a 12.3% increase and accounting for 17.3 percent of the city's total exports. Exports to ASEAN and the United States were valued at 2.95 billion yuan and 2.25 billion yuan, respectively, growing by 27.9 percent and 22.2 percent.

Quzhou imported 3.19 billion yuan worth of goods from Indonesia and 1.93 billion yuan from Brazil. Imports from the European Union and Australia were valued at 670 million yuan and 640 million yuan, respectively, showing significant increases of 120 percent and 150 percent.

Trade with Belt and Road Initiative countries totaled 16.31 billion yuan, accounting for 53.6 percent of the city's total foreign trade. Trade with ASEAN countries reached 6.73 billion yuan, while trade with RCEP member countries stood at 12.35 billion yuan, a 7.1 percent increase.

During this period, 1,163 enterprises in Quzhou engaged in foreign trade, an 11.5 percent increase. Private enterprises led the way with a total trade value of 25.64 billion yuan, up by 19 percent.

General trade accounted for 23.33 billion yuan, while processing trade amounted to 7.09 billion yuan, a 320 percent increase. Exports via the cross-border e-commerce platform reached 1.36 billion yuan, growing by 64.1 percent.