Shandong Province-EU Trade Up Fast in April 2017


According to Jinan Customs statistics, during January-April 2017, Shandong Province trade with EU totaled CNY 64.87 billion, up 16.8% year-over-year (YOY). Therein, Shandong export reached 46 billion yuan, up 18.5%; Shandong import 18.87 billion yuan, up 12.7%; its trade surplus was 27.12 billion yuan, up 22.9% YOY. In April alone, the Province’s EU trade totaled 17.76 billion yuan, up 25.7% YOY, including export value 13.23 billion yuan, up 36.1%, and import value 4.53 billion yuan, up 2.6%.

Characteristics of Shandong-EU trade in April:

(1) Monthly export value continued to rebound since this February, while import value fell month-on-month (MOM). In April, driven by global demand for foreign trade, Shandong’s EU trade reached 17.76 billion yuan, up 25.7% YOY and up 6% MOM; therein, export value was 13.23 billion yuan, up 36.1% YOY and up 17.9% MOM; import value 4.53 billion yuan, up 2.6% YOY but down 18.2% MOM. (See the chart below.)

(2) Ordinary trade value accounted for nearly 70%. In April, Shandong’s ordinary trade with EU reached 11.96 billion yuan, up 21.5% YOY, accounting for 67.3% of the total; its processing trade with EU reached 5.36 billion yuan, up 34.2% YOY, accounting for 30.2% of the total.

(3) Private enterprises and foreign-invested enterprises were the leading exporter/importer. In April, Shandong’s private enterprises made 9.39 billion yuan-worth trade with EU, up 24.2% YOY, accounting for 52.9% of the total; foreign-invested enterprises made 6.93 billion yuan-worth trade, up 29.6%, accounting for 39%; state-owned enterprises made 1.44 billion yuan-worth trade, up 18%.

(4) Major exports were electro-mechanical products, traditional labor-intensive products and agricultural products. In April, exported from Shandong to EU, electro-mechanical products totaled 5.68 billion yuan, up 56.6% YOY; traditional labor-intensive products totaled 2.52 billion yuan, up 25.8% YOY, including textile garments worth 1.48 billion yuan, up 23.2%; agricultural products totaled 1.58 billion yuan, up 21.7% YOY; cultural products 1.14 billion yuan, up 70.1% YOY.

(5) Imported from EU, electro-mechanical products totaled 2 billion yuan, a small increase of 4% YOY; high-tech products totaled 490 million yuan, down 8.2% YOY; agricultural products totaled 450 million yuan, down 13.6% YOY. Notably, the Province had no petroleum import from EU this April.
Source: ETCN
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