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Jiangsu's foreign trade hits US$260.81 billion in H1

Jul. 30, 2012 (China Knowledge) - The export and import value of Jiangsu Province totaled US$260.81 billion in the first half of this year, 1.3% more than in the same period of 2011, according to official statistics.

The growth rate was 1 percentage point higher than that in the first quarter but 18.7 percentage points lower than that in H1 of 2011.

The province's exports rose 4.1% YoY to US$153.52 billion in the six-month period, while its imports fell 2.4% to US$107.3 billion. The export value under general grade grew 8.9% YoY to US$64.02 billion, but that under processing trade dropped 2.7% to US$80.27 billion. Privately-owned enterprises experienced fast growth in exports, which jumped 20.7% to US$35.6 billion in H1.

Jiangsu saw rapid growth in trade with emerging markets. Trade with Russia, Latin America, the ASEAN member countries and Africa reached US$2.62 billion, US$10.55 billion, US$13.91 billion and US$4.34 billion, up 25.4%, 17.6%, 9.9% and 22.4% YoY, respectively.

Jiangsu's trade with the E.U. fell 9.4% to US$31.54 billion in H1, while its trade with the U.S. and Japan was US$30.78 billion and US$15.15 billion, rising 8.3% and 9.6% YoY, respectively.

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