Shandong processing trade surges this year

22 Jun '07

2 min read

The processing trade of Shandong Province reached US $18.99 billion from January to May this year, an increase of 18.4 percent, accounting for 42.8 percent of the total import and export value of the province.

Exports broke through $10 billion to $12.2 billion, with a rise of 23.1 percent, accounting for 45.1 percent of province's total exports. Imports reached $6.8 billion, a surge of 10.9 percent, accounting for 39.2 percent of Shandong's overall imports.

By the nature of enterprises, foreign-invested groups exported $8.99 billion, a growth of 26.5 percent, accounting for 73.7 percent of the entire exports. Collective organizations exported $1.38 billion, an increase of 12.9 percent, accounting for 12.9 percent of the total exports.

State-owned enterprises exported $1.02 billion, down 1.1 percent, accounting for 8.4 percent of the total exports. Private companies exported $810 million, an increase of 47.8 percent, accounting for 6.6 percent of the total exports.

By commodity categories, mechanical and electronic product exports reached $5.37 billion, a boost of 36.4 percent, accounting for 44 percent of the whole exports. Textile and garment exports scored $2.32 billion, an increase of 14.1 percent, accounting for 19 percent of the total exports.

High-tech product exports amounted to $2 billion, a rise of 3.2 percent, accounting for 16.4 percent of the total exports. Agricultural product exports marked $1.24 billion, showing growth of 18.6 percent, accounting for 10.1 percent of entire exports.

By principal markets, exports to US stood for $2.72 billion, presenting a rise of 12.8 percent. Exports the EU scored $2.22 billion, an increase of 41.1 percent, in South Korea it touched $2.05 billion, giving a growth of 19.5 percent, and Japan amounted to $1.77 billion, presenting a growth of 9.1 percent. Hong Kong marked $630 million, a drop of 3.7 percent.

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