Yantai foreign trade up 5.3% in March

Yantai, a coastal city in East China's Shandong province, saw its foreign trade rise 5.3 percent year-on-year to 21.83 billion yuan ($3.25 billion) in March, according to Yantai customs.

 

Its exports reached 13.24 billion yuan, up 13.7 percent year-on-year, while imports totaled 8.6 billion yuan, down 5.5 percent.

 

Private enterprises and state-owned enterprises were the driving forces behind the growth in foreign trade.

 

In March, the import and export value of private enterprises and state-owned enterprises reached 8.37 billion yuan and 2.02 billion yuan respectively.

 

Imports and exports to South Korea and Japan rose 14 percent and 9.1 percent, respectively, while foreign trade to the European Union increased by 36.5 percent. The three regions were Yantai's top three trading partners in March.

 

Exports of mechanical, electronic, and agricultural products all saw significant increases. The export value of mechanical and electronic products in March was 7.24 billion yuan, up 3.2 percent, while agricultural exports totaled 1.92 billion yuan, up 32.1 percent.

 

Source:chinadaily

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