Shandong's foreign trade maintains steady growth in the first half of 2024

Shandong province's foreign trade reached 1.62 trillion yuan ($222.9 billion) in the first half of 2024, a 4.3 percent year-on-year increase. Exports totaled 995.43 billion yuan, up 9.1 percent, while imports amounted to 623.67 billion yuan, down 2.6 percent.

In June alone, Shandong's foreign trade reached 297.89 billion yuan. Exports stood at 190.33 billion yuan, while imports totaled 107.56 billion yuan.

Eight of Shandong's 16 cities achieved positive growth in foreign trade during the first half of the year. Jining, Tai'an, and Linyi witnessed remarkable growth rates of 48 percent, 30.4 percent, and 23 percent, respectively. Qingdao maintained its leading position, with foreign trade reaching 437.83 billion yuan, accounting for 27 percent of the province's total.

In terms of major markets, Shandong's foreign trade with ASEAN, the EU, South Korea, and Brazil maintained growth during the first half of the year, while the proportion of foreign trade with countries involved in the Belt and Road Initiative also increased.

Specifically, Shandong's foreign trade with ASEAN reached 338.3 billion yuan, up 14.2 percent, while trade with the EU stood at 149.7 billion yuan, a 1 percent increase. Foreign trade with countries involved in the Belt and Road Initiative reached 934.22 billion yuan, a 5.6 percent growth.