Shanxi's foreign trade reaches 169.37b yuan in 2023

The total value of Shanxi province's imports and exports in 2023 reached 169.37 billion yuan ($23.58 billion), with the decline narrowing by 9.3 percentage points compared to 2022.

Shanxi's import and export trade with countries involved in the Belt and Road Initiative amounted to 71.7 billion yuan, showing a 5.7-percent year-on-year increase. It also accounted for 42.3 percent of the province's total foreign trade value.

The province's import and export trade with RCEP member countries reached 52.24 billion yuan, indicating a 10.8-percent year-on-year increase and reflecting 30.8 percent of the province's total foreign trade value. 

In 2023, the number of foreign trade enterprises in Shanxi that were involved in import and export reached 2,010, marking a 16.9-percent year-on-year increase. The import and export trade value of State-owned enterprises amounted to 43.43 billion yuan, up 4.2 percent year-on-year.

In terms of trade products, fertilizers, rail transportation equipment, and automobiles all saw rapid growth in export volume, with year-on-year increases of 181.4 percent, 115.4 percent, and 70.8 percent, respectively. Products such as soybeans, coal, and ferroalloys saw significant import growth and served as the major highlights in foreign trade. They collectively boosted the province's import growth rate by 11.8 percentage points.