The latest statistics from Taiyuan customs showed that the import-export value of Shanxi province reached 79.38 billion yuan ($12.97 billion) in the first 10 months of 2014, a decrease of 1.3 percent compared with the same period last year. Nevertheless, the export volume in October reached 10.8 billion yuan, a year-on-year growth of 50.4 percent. In the first 10 months, Shanxi’s total exports reached 42.28 billion yuan, an increase of 3 percent year-on-year, a reverse of the previous downward. The import value decreased 5.7 percent, a narrow decline of 1.8 percentage points, to 37.1 billion yuan.
The surplus in commodity trade was 5.18 billion yuan.
In October, the import and export value increased without exception, as imports increased to 3.75 billion yuan at a growth rate of 14.2 percent, while export value reached 7.05 billion yuan at a growth rate of 80.7 percent.
Processing trade grew by 28.3 percent in the first 10 months, according to the analysis made by insiders from Taiyuan customs.
The general trade and import-export cargos via bonded house slumped, fell 12.6 percent and 75.5 percent respectively. The main reason for the slide in general import-export trade was the reduction of iron ore imports. Shanxi’s volume of import-export with US increased by 12.9 percent and the volume with the ASAN (Association of Southeast Asian Nations) increased by 8 percent. However considerably decrease was witnessed in the import and export with Australia and BRICS ( Brazil , Russia , India , China , South Africa).
Foreign-funded enterprises developed rapidly at a growth rate of 11 percent, while private enterprise and State-owned business slipped 13 percent and 1.8 percent, respectively. The export of cellular phones has grown continuously since July, reaching 2.91 million units worth 4.48 billion yuan, an increase of 1.4 times and 1.9 times year-on-year, respectively.
The importation of agricultural, mechanical and electrical products, and high-tech products saw vigorous growth, while the high-tech products imports grew 84 percent valued at 9.03 billion yuan.
