Shandong Province-Latin America Trade Up Steadily in Jan-Aug 2017

According to Jinan Customs statistics, in January-August 2017, Shandong Province trade with Latin America totaled CNY 133.07 billion, up 27.7% year-on-year (YOY); therein, export to Latin America reached 42.79 billion yuan, up 12.7%; import from Latin America reached 90.28 billion yuan, up 36.2%; in August alone, Shandong-Latin America trade reached 19.31 billion yuan, up 16.6%, with export value 6.3 billion yuan, up 10.3% and import value 13.01 billion yuan, up 19.9%.

Trade Characteristics in August Alone:

1. This August, the export and import totaled 19.31 billion yuan, up 16.6% YOY and up 7.9% month-on-month; therein, export value 6.3 billion yuan as the highest since this year, up 10.3% YOY and up 2% month-on-month; import value 13.01 billion yuan, up 19.9% YOY and up 11% month-on-month.
 

2. Shandong-Latin America ordinary trade reached 14.46 billion yuan, up 22.9% YOY, accounting for 74.9% of the total; processing trade reached 3.06 billion yuan, down 18.9% YOY, accounting for 15.9%; the trade under special Customs control reached 1.67 billion yuan, up 79.6% YOY.

3. Brazil was the largest trade partner, with trade value 7.21 billion yuan, up 0.4% YOY; trade with Venezuela reached 2.43 billion yuan, up 6 times YOY, with import value 2.26 billion yuan, up 20 times YOY; trade with Mexico reached 2.18 billion yuan, up 24.7% YOY; the three countries accounted for 61.2% of the total trade; in addition, trade with Chile reached 1.69 billion yuan, down 27% YOY.

4. Export commodities: electro-mechanical products, the major export, reached 2.91 billion yuan, up 25% YOY, accounting for 16.2% of the total export; automobile spare parts reached 860 million yuan, up 21.2% YOY; labor-intensive products reached 600 million yuan, down 1.7% YOY.

5. Import commodities: crude oil from Latin America reached 4.39 billion yuan, an increase of 1.8 times, accounting for 33.8% of the total import; agricultural products reached 4.22 billion yuan, down 12.4%, including soybeans worth 3.65 billion yuan, down 16.4% YOY; imported iron ore and concentrate reached 1.51 billion yuan, up 60.3%; copper ore and concentrate reached 990 million yuan, down 18.8% YOY.