Harbin's foreign trade flourishes in first 5 months of 2024

Harbin witnessed a remarkable surge in foreign trade activity in the first five months of this year.

According to Bingcheng Customs, the total value of Harbin's foreign goods trade during the period reached an impressive 20.32 billion yuan ($2.78 billion), a 5.7-percent increase compared to the same period last year.

Exports soared to 9.78 billion yuan, a significant growth of 59.0 percent.

The period also saw a notable rise in processing trade and foreign contracted projects.

Processing trade grew by 23.7 percent, accounting for 2.5 percent of total foreign trade, while exports from foreign contracted projects skyrocketed by 587.5 percent, making up 2.8 percent of all exports. General trade also showed a modest increase of 2.9 percent, representing 88.9 percent of the city's total imports and exports.

Additionally, Harbin's trade with countries involved in the Belt and Road Initiative was particularly robust, totaling 12.47 billion yuan, an impressive 32.2-percent increase, outpacing the city's overall foreign trade growth rate by 26.5 percentage points. This trade accounted for 61.3 percent of Harbin's total imports and exports.