Shandong's foreign trade shows strong vitality from January to May

  According to Qingdao Customs statistics, in the first five months, Shandong Province's foreign trade imports and exports totaled 1.27 trillion yuan, a year-on-year increase of 17.3%. Exports reached 757.25 billion yuan, an increase of 26.8%; imports reached 512.78 billion yuan, an increase of 5.6%. In the ranking of the top six provinces and cities in terms of import and export growth, Shandong ranked third, after Beijing and Zhejiang; export growth ranked first; import growth ranked fourth, after Beijing, Zhejiang, and Jiangsu. Shandong's import and export, export, and import growth rates all exceeded the national average.

　　Data shows, In May, Shandong Province's import and export value jumped to fourth place nationally. Import and export value for the month reached 299.95 billion yuan, a year-on-year increase of 28.0%. Exports reached 184.57 billion yuan, a year-on-year increase of 41.8%; imports reached 115.38 billion yuan, a year-on-year increase of 10.7%.

　　According to relevant personnel from the Shandong Provincial Department of Commerce, Main characteristics of Shandong's foreign trade imports and exports in the first five months:

　　Zaoyang, Weifang, Jining, Taian, Jinan, Binzhou, and Heze showed higher growth rates. In the first five months, Qingdao's imports and exports totaled 339.08 billion yuan, an increase of 6.8%, accounting for 26.7% of Shandong Province's total imports and exports during the same period, a decrease of 2.6 percentage points. Zaoyang, Weifang, Jining, Taian, Jinan, Binzhou, and Heze showed higher import and export growth rates than the provincial average, with growth rates reaching 121.2%, 64.8%, 48.7%, 43.3%, 39.3%, 32.9%, and 30.2%, respectively.

　　General trade and bonded logistics imports and exports maintained rapid growth. In the first five months, Shandong Province's general trade imports and exports totaled 844.35 billion yuan, an increase of 16.3%, accounting for 66.5% of the province's total imports and exports. During the same period, bonded logistics imports and exports totaled 212.16 billion yuan, an increase of 54.4%; processing trade imports and exports totaled 182.32 billion yuan, an increase of 2.4%.

　　Private and state-owned enterprises' imports and exports grew rapidly, while foreign-invested enterprises' growth was relatively slow. In the first five months, Shandong Province's private enterprises' imports and exports totaled 919.92 billion yuan, an increase of 22.5%, accounting for 72.4% of the province's total imports and exports, an increase of 3.1 percentage points. During the same period, foreign-invested enterprises' imports and exports totaled 236.82 billion yuan, an increase of 0.7%; state-owned enterprises' imports and exports totaled 112.88 billion yuan, an increase of 19.0%.

　　Imports and exports to most major markets maintained growth, with imports and exports to countries along the Belt and Road Initiative showing faster growth. In the first five months, ASEAN, the United States, the European Union, South Korea, Japan, Russia, and Brazil were Shandong's top seven trading partners, accounting for a total of 62.4% of the province's total foreign trade imports and exports. Imports and exports with ASEAN totaled 224.56 billion yuan, an increase of 44.5%; with the United States, 140.26 billion yuan, an increase of 18.9%; with the European Union, 117.53 billion yuan, an increase of 10.5%; with South Korea, 111.64 billion yuan, an increase of 9.7%; with Japan, 77.95 billion yuan, an increase of 13.1%; with Russia, 61.14 billion yuan, an increase of 30.0%; and with Brazil, 59.02 billion yuan, a decrease of 11.3%. During the same period, Shandong's imports and exports with other RCEP member countries totaled 470.9 billion yuan, an increase of 22.2%, accounting for 37.1% of the province's total imports and exports, an increase of 1.5 percentage points. Imports and exports with countries and regions along the Belt and Road Initiative totaled 461.16 billion yuan, an increase of 33.8%, accounting for 36.3% of the province's total imports and exports, an increase of 4.5 percentage points.

　　Exports of electromechanical products, labor-intensive products, and agricultural products all maintained double-digit growth. In the first five months, Shandong Province's exports of electromechanical products totaled 315.81 billion yuan, an increase of 21.1%, accounting for 41.7% of total exports. Exports of auto parts totaled 48.14 billion yuan, an increase of 15.1%; electrical equipment, 19.55 billion yuan, an increase of 48.9%; and electronic components, 18 billion yuan, an increase of 47.4%. During the same period, exports of labor-intensive products totaled 146.85 billion yuan, an increase of 27.6%, accounting for 19.4% of total exports; agricultural product exports totaled 54.48 billion yuan, an increase of 11.5%, accounting for 7.2% of total exports.

　　Imports of crude oil and soybeans decreased in volume but increased in value, while imports of iron ore decreased in both volume and value; imports of electromechanical products maintained rapid growth. In the first five months, Shandong Province's imports of 14 major bulk commodities totaled 297.31 billion yuan, an increase of 6.5%, accounting for 58.0% of total imports, an increase of 0.5 percentage points, driving import growth by 3.7 percentage points. Crude oil imports totaled 35.538 million tons, a decrease of 21.0%, with a value of 156.69 billion yuan, an increase of 17.1%, and an average price of 4409.2 yuan per ton, an increase of 48.2%; iron ore imports totaled 41.545 million tons, a decrease of 23.3%, with a value of 32.72 billion yuan, a decrease of 44.5%, and an average price of 787.5 yuan per ton, a decrease of 27.7%. During the same period, imports of electromechanical products totaled 95.18 billion yuan, an increase of 12.1%; agricultural product imports totaled 59.75 billion yuan, an increase of 0.2%.

　　Since the beginning of this year, Shandong has continuously strengthened policy support, issuing the “Action Plan for Stabilizing and Improving Foreign Trade in 2022”, proposing 32 policy measures focusing on improving the development level of new business formats, strengthening financial support, expanding export credit insurance, foreign exchange hedging, smoothing international freight transport, and customs clearance facilitation, to promote continuous growth in the scale of goods trade.