According to the statistics of Jinan and Qingdao Customs, in the first five months of 2020 the value of import and export trade in goods of Shandong Province reached RMB 774.07 billion, a decrease of 3.4% when compared to the same period of last year (the same below), which accounted for 6.7% of the total import and export value of China and ranked the 6^th among all provinces and municipalities. Specifically, the export value was RMB 433.85 billion, an increase of 2%; the import value was RMB 340.22 billion, a decrease of 9.4%.

In May, the total import and export value of Shandong hit RMB 159.15 billion, a decline of 6.3%. Specifically, the export value was RMB 96.41 billion, an increase of 6.1%; the import value was RMB 62.74 billion, a decrease of 20.6%.

Monthly import and export value show wild fluctuations, while the export value increases steadily and the import value falls rapidly. Due to the COVID-19 epidemic, the import and export value of Shandong declined sharply in this February. Afterwards, as the epidemic was effectively controlled in the province and the resumption of work and product was carried out steadily, the export and import stopped declining and bounced back in March and April. However, as the export went down sharply in May, the export and import value declined again.

The export and import of Qingdao and Yantai were among the top, while those of Jinan increased rapidly. In the first five months, the export and import value of Qingdao and Yantai was RMB 237.44 billion and RMB 104.15 billion respectively, maintaining their leading positions in Shandong.

The import and export of general trade and processing trade fell, while that of bonded logistics increased; the import and export of private enterprises realised an increase, while that of foreign-invested enterprises and SOEs decreased; the import and export of trade with countries along the “Belt & Road” showed a strong momentum of increase; the import of crude oil, mechanical and electrical products, metal and ore sand went down, while that of agricultural products and consumer goods rose; mechanical and electrical products, labor-intensive products and agricultural products were the main export commodities. In the first five months, the export value of these three commodities were RMB 176.61 billion, RMB 84.45 billion and RMB 49.63 billion respectively.