In the first five months of this year, Suzhou’s foreign trade showed strong development momentum.
Its total foreign trade import and export value reached 1.48 trillion yuan, an increase of 37.5% compared with the same period last year, accounting for 7.2% and 52.2% of the country’s and the province’s foreign trade respectively.
Among them, exports were 890.09 billion yuan, an increase of 31%; imports were 589.41 billion yuan, an increase of 48.7%.
In the past May, Suzhou’s total import and export value reached 357.23 billion yuan, an increase of 59.4%. The growth rate for that month set a record since February 2010.
In terms of regional foreign trade, in the first five months of this year, Suzhou’s imports and exports to countries co-building the “Belt and Road” increased by 64.4% to 778.86 billion yuan, and the proportion further expanded to 52.6%, an increase of 8.6 percentage points from the same period last year.
The monthly growth rate in May was as high as 90.9%, contributing more than 70% of the city’s increase that month.
This fully demonstrates the closeness and huge potential of trade cooperation between Suzhou and the “Belt and Road” countries.
During the same period, Suzhou’s imports and exports to ASEAN and the EU increased by 51% and 21.4% respectively, accounting for 21.1% and 11.5% of the city’s foreign trade respectively.
From a product perspective, the overseas structure of “Made in Suzhou” continues to be optimized.
In the first five months, the city’s exports of lithium batteries and photovoltaic products were outstanding, with exports of 12.77 billion yuan and 4.24 billion yuan respectively, an increase of 87.5% and 109.6%.
This reflects Suzhou’s strong competitiveness and innovation capabilities in the field of new energy.
During the same period, exports of electrical equipment, household appliances, and printed circuits also experienced varying degrees of growth, with increases of 26%, 14.7%, and 33.7% respectively.
The growth in exports of these products not only reflects the diversified development of Suzhou’s manufacturing industry, but also demonstrates the popularity of Suzhou products in the international market.
On the import side, the strong demand from Suzhou’s electronic information industry is highlighted.
In the first five months, the city imported 481.48 billion yuan of mechanical and electrical products, an increase of 65.9%, of which electronic components increased by 107.9%.
This shows that Suzhou’s electronic information industry continues to grow and develop, and the demand for high-end electronic components continues to increase, which also provides strong support for Suzhou’s industrial upgrading and innovative development.
Overall, Suzhou’s foreign trade has achieved remarkable results in the first five months of this year. Whether it is the growth of total import and export value, the expansion of trade areas and the optimization of product structure, they all show the vitality and competitiveness of Suzhou’s foreign trade.
In the future, Suzhou’s foreign trade is expected to continue to maintain a good development trend and make greater contributions to the development of China’s foreign trade.
