Shanxi's foreign trade up 7.9% in Q1-Q3

According to Taiyuan Customs statistics, North China's Shanxi province's foreign trade in the first three quarters of this year reached 130.8 billion yuan ($18.34 billion), a 7.9-percent increase year-on-year. Exports amounted to 79.96 billion yuan, up by 5.9 percent, while imports reached 50.84 billion yuan, rising by 11.2 percent.

Key trading markets maintained steady growth momentum. The top four trading partners were the United States, ASEAN, the European Union, and Australia. Trade with countries involved in the Belt and Road Initiative reached 60.93 billion yuan, up by 18 percent. Trade with RCEP member countries reached 40.66 billion yuan, growing by 8.4 percent.

Steel, solar cells, electrical equipment, coal, and textiles were significant export drivers. Steel exports amounted to 7.19 billion yuan, up by 18.3 percent; electrical equipment exports reached 1.67 billion yuan, increasing by 30.4 percent; and solar cells, coal, and textiles exports were valued at 1.76 billion yuan, 640 million yuan, and 640 million yuan, respectively, with growth rates of 202.3 percent, 170.2 percent, and 72.1 percent.

Exports in emerging industries surged, with exports of the "new three products" (lithium-ion batteries, electric passenger vehicles, and solar cells) reaching 1.99 billion yuan, up by 130 percent. Leading enterprises in the key industrial chains exported 1.17 billion yuan in high-end equipment, a 36.5-percent increase.

Major import drivers included various metal ores, coal, soybeans, pulp, and cosmetics. Imports of pulp and cosmetics soared, growing by factors of 42.5 and 13.5, respectively.