Foreign trade surges in August

(ezhejiang.gov.cn) Updated : 2020-09-15

The latest data from the Hangzhou customs office show that Zhejiang province's imports and exports surged in August.

Its exports grew by 16.5 percent year-on-year to 238.41 billion yuan ($35.09 billion) while its imports rose by 15.4 percent year-on-year to 74.35 billion yuan.

"Zhejiang's foreign trade is rebounding at an accelerated pace. It reached a value of 2.12 trillion yuan in the first eight months of this year, up 7.1 percent from the previous year," said an official from the Hangzhou customs office. The province's exports during the period saw a 6.1 percent year-on-year increase to 1.58 trillion yuan, and the growth rates for overall trade, imports, and exports were all markedly higher than the national average.

Over the first eight months of this year, the total value of trade between Zhejiang and the United States, the province's largest trading partner, stood at 316.26 billion yuan, up 11.8 percent from the previous year. Meanwhile, the province's exports to the ASEAN and South Korea shot up 18.6 percent and 24.3 percent, respectively.

A particularly high increase in exports was seen in Zhejiang's high-tech industries. Between January and August, the province's machinery and electronic product exports stood at 697.15 billion yuan, up 9.8 percent year-on-year; while its high-tech product exports were valued at 121.57 billion yuan, up 19 percent year-on-year.

Pandemic prevention and control equipment has become one of the province's major exports. Between January and August, the province exported 60.5 billion yuan in face masks, protective garments, infra-red thermometers, and goggles, making up 3.8 percent of the total value of its exports.

Private companies saw 1.6 trillion yuan in foreign trade, up 10.7 percent year-on-year. This accounts for 75.4 percent of the province's total foreign trade, up 2.4 percentage points from last year.