Qingdao foreign trade import and export highlights

A few days ago, Qingdao Customs released data showing that in the first five months of 2020, Qingdao’s foreign trade import and export value reached 237.44 billion yuan, an increase of 2.5% over the same period last year. Among them, exports were 138.36 billion yuan, an increase of 7.5%.
With the orderly advancement of global trade transactions, Qingdao's foreign trade import and export has shown many bright spots.
The proportion of trade imports and exports continued to increase. In the first five months, Qingdao’s general trade imports and exports totaled 161.83 billion yuan, up 15.5%, accounting for 68.2% of the city’s total foreign trade imports and exports, up 7.7 percentage points from the same period last year. Among them, exports increased by 12.6% and imports increased by 20.6%.
Qingdao private enterprises continue to optimize the trade structure, and the growth of imports and exports is stable. In the first five months, Qingdao’s imports and exports of private enterprises amounted to 150.3 billion yuan, an increase of 12.3%, accounting for 63.3% of the city’s total foreign trade import and export value, which accounted for an increase of 5.6 percentage points.
In the first 5 months, Qingdao's imports and exports to ASEAN and the EU increased against the trend, while imports and exports to the United States declined. ASEAN is the largest trading partner of Qingdao, with a total trade value of 33.26 billion yuan with ASEAN, an increase of 28.9%, accounting for 14% of the city's total foreign trade import and export value. The EU is the second largest trading partner. The total trade value between Qingdao and the EU is 31.23 billion yuan, an increase of 11.9%, accounting for 13.2% of the city's total foreign trade import and export value. The US, as the third largest trade market, imports and exports 25.49 billion yuan, down 7%.
In addition, in the first five months, Qingdao’s imports and exports to countries along the “Belt and Road” reached 69.05 billion yuan, an increase of 15.6%, 13.1 percentage points higher than the city’s overall growth rate, accounting for 29.1% of the city’s total foreign trade import and export value.
The export of mechanical and electrical products and labor-intensive products showed a substantial increase. Exports of commodities such as general mechanical equipment, containers, televisions, refrigerators, and automobiles increased. In the first five months, Qingdao’s exports of mechanical and electrical products were 63.61 billion yuan, an increase of 8%, accounting for 46% of the city’s total export value. During the same period, Qingdao’s labor-intensive products exported 29.82 billion yuan, up 8.5%.
At the same time, cross-border e-commerce imports and exports have also shown a doubling trend. In the first five months, Qingdao’s import and export through the customs cross-border e-commerce management platform was 860 million yuan, an increase of 6.3 times. Among them, cross-border direct purchase exports of 490 million yuan, an increase of 7.9 times; online shopping bonded imports of 360 million yuan, an increase of 6.7 times.
It is understood that Qingdao’s foreign trade imports and exports reached 47.65 billion yuan in May alone, a year-on-year increase of 2.3%. Among them, exports were 29.48 billion yuan, a year-on-year increase of 9%.