According to statistics jointly released by Qingdao Customs and Jinan Customs today, Shandong registered a total import & export value of 2.39 trillion yuan in the first 10 months of this year, up 36.0% year on year and up 43.2% from the same period of 2019. The export value stood at 1.41 trillion yuan, up 38.9% year on year and up 56.2% from the same period of 2019; the import value was 979.97 billion yuan, up 31.9% year on year and up 27.9% from the same period of 2019. Shandong's import & export value, export value and import value in the first 10 months exceeded the total of last year; the three indictors grew faster in Shandong than the national average; Shandong was ranked first among the top six key foreign trade provinces in terms of the growth of the three indicators.

In terms of global markets, Shandong achieved fast growth in import & export trade with key markets and the trade with the countries along the Belt and Road grew by over 40%. ASEAN, the U.S., the EU, South Korea, Japan and Brazil contributed 56.9% of Shandong's total import & export value in the first 10 months as its top six trade partners. Shandong reported an import & export value of 748.37 billion yuan from trade with the countries along the Belt and Road in the same period, up 42.0% year on year, accounting for 31.4% of Shandong's total (up 1.3% year on year); 837.22 billion yuan from trade with the other member countries of RCEP, up 36.7% year on year, accounting for 35.1% of Shandong's total (up 0.2% year on year).

In terms of market entities, various enterprises in Shandong maintained fast growth and private enterprises contributed more than 70% of Shandong's total import & export value. Private enterprises posted an import & export value of 1.69 trillion yuan in the first 10 months, up 38.9% year on year, accounting for 70.6% of Shandong's total (up 1.5% year on year). Foreign-invested enterprises registered an import & export value of 485.69 billion yuan in the same period, up 25.7% year on year; state-owned enterprises registered 212.99 billion yuan, up 38.9% year on year.

According to Zhang Jingzhou, Director of the Office of Statistical Analysis, Qingdao Custom, the fast growth in the export of electromechanical products and labor-intensive products is a key driver for the rapid growth of Shandong's total export. Shandong registered an electromechanical product export value of 610.41 billion yuan in the first 10 months, up 43.6% year on year, accounting for 43.4% of Shandong's total, driving Shandong's export growth by 18.3%. Shandong's labor-intensive products contributed an export value of 293.16 billion yuan in the same period, up 31.5% year on year, accounting for 20.8% of Shandong's total. "The two sets of data show Shandong's achievements in driver conversion, as well as its advantage in Shandong's integration into the reshuffle of global manufacturing," Zhang said.

In terms of import, Shandong's total import value was boosted by the rise in prices of major international commodities in the first 10 months. Shandong recorded a total import value of 544.51 billion yuan from 14 types of key commodities, up 27.5% year on year, accounting for 55.6% of Shandong's total, driving Shandong's import growth by 15.8%.