Foreign trade formats and market structure were continuously optimized: the import and export in the first three quarters was 185.94 billion RMB

Recently, the reporter learned from Nantong Customs that in the first three quarters, our city’s total foreign trade import and export value was 185.94 billion yuan, ranking fourth in Jiangsu Province, accounting for 5.8% of the province’s total import and export value. Among them, exports totaled 125.38 billion yuan, up 1.5%. Behind the data, there is a feature of continuous optimization of foreign trade formats and market structure.

Foreign trade formats and market structure were continuously optimized: the import and export in the first three quarters was 185.94 billion RMB
Foreign trade formats and market structure were continuously optimized: the import and export in the first three quarters was 185.94 billion RMB

Data show that in the first three months, the general trade toughness with relatively higher added value and more self-development ability was further revealed, with imports and exports reaching 133.3 billion yuan, accounting for 71.7% of the total value of imports and exports. Emerging trade formats such as market procurement and cross-border e-commerce continued to grow steadily.

Judging from the market structure, the process of diversification of trading partners continues to advance. The biggest bright spot is the obvious growth trend towards ASEAN and the countries along the “the belt and road initiative”, with import and export of 25.53 billion yuan and 59.14 billion yuan respectively, up 5.6% and 7.3% respectively, both faster than the overall growth rate. In addition, the EU’s growth rate for traditional markets was significant, up 22.6%.

Judging from the types of products, the export of traditional advantageous products is basically stable, among which textiles rose slightly by 3%, while electromechanical products and petrochemical products declined slightly. Imports increased or decreased with each other. Natural gas was still the largest product, up 14.8%, accounting for 30.8% of the total value of imports. Imports of integrated circuits fell 40.9%.

 

Original Artical,Author:China Trade Agent,if repost,please give references :https://offers-bg.com/trade-formats-and-market-structure/

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