Yantai foreign trade surges 70.1% in Jan-Feb

The foreign trade value in Yantai, a coastal city in East China's Shandong province surged 70.1 percent year-on-year in the first two months of this year, hitting 60.31 billion yuan ($9.27 billion), local media reported.

During this period, the city's exports reached 35.44 billion yuan, up 75.6 percent year-on-year, while its imports stood at 24.87 billion yuan, up 62.8 percent.

From January to February, Yantai's general trade import and export reached 28.73 billion yuan, an increase of 53 percent, accounting for 47.6 percent of the city's total.

The imports and exports of foreign-invested enterprises in Yantai reached 28.73 billion yuan, up 104.8 percent year-on-year, accounting for 47.6 percent of the city's total.

As for import and export commodities, the city's export volume of mechanical and electrical products amounted to 21.45 billion yuan, up 121.3 percent. The exports of agricultural products reached 3.6 billion yuan, up 14.2 percent.

The United States became the largest trade market for Yantai, posting a trade volume of 11.37 billion yuan in the first two months of this year. During this period, the city's imports and exports to South Korea reached 6.68 billion yuan, up 37 percent, while the volume to Japan was 6.51 billion yuan, an increase of 45.1 percent.