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Staff members of Taiyuan customs check stainless steel exports manufactured by Taiyuan Iron & Steel Group. [Photo/sxrb.com] |
Shanxi's import-export volume broke through 110 billion yuan to reach 116.19 billion yuan ($18.32 billion) in 2017, an increase of 5.6 percent year-on-year, according to the Shanxi Department of Commerce.
Imports rose to 47.16 billion yuan, up 6.0 percent, and exports to 69.03 billion yuan, up 5.3 percent. Imports have been increasing for 17 months since August 2016 with mechanical, electrical and high-tech products accounting for more than half of their value, while exports remain optimized.
There were 1,309 enterprises, 84.7 percent of them private companies, contributing to the province's foreign trade, 49 more than in 2016.
Exports by State-owned and private enterprises in 2017 amounted to 15.38 billion yuan and 11.98 billion yuan, growing 35.1 percent and 18 percent respectively.
Export by foreign-invested enterprises were valued at 41.67 billion yuan, representing a year-on-year decline of 3.0 percent. The group was still the largest major export contributor in Shanxi, accounting for 60.36 percent of the province's exports.
Shanxi was also increasingly diverse in the foreign trade market. In 2017, Shanxi traded with 180 countries and regions, four more than 2016. The import-export volume with Asia was the largest and the trade with Africa had the fastest growth. The top five trade markets for Shanxi were the European Union, the United States, South Korea, Taiwan and the Association of Southeast Asian Nations.
