In the first eight months of 2024, Jiangsu Province’s import and export increased by 8.5% year-on-year

According to statistics from Nanjing Customs, in the first eight months of 2024, Jiangsu’s total import and export value of goods trade was 3.65 trillion yuan, a year-on-year increase of 8.5%, a growth rate 2.5 percentage points higher than the national level, accounting for 12.8% of my country’s total import and export value during the same period. Among them, in August, Jiangsu Province’s import and export reached 494.46 billion yuan, an increase of 11.1%, and the growth rate was 6.4 percentage points higher than the national level.

General trade imports and exports account for nearly 60%. In the first eight months, Jiangsu Province’s import and export volume through general trade was 2.1 trillion yuan, an increase of 6.5%, accounting for 57.7%. During the same period, the import and export of processing trade was 1.14 trillion yuan, an increase of 12%, accounting for 31.3%.

Private enterprises play a significant stimulating role. In the first eight months, the import and export of private enterprises in Jiangsu Province was 1.64 trillion yuan, an increase of 12%, driving the province’s import and export growth by 5.2 percentage points, and its share increased by 1.4 percentage points to 45% compared with the same period in 2023. Foreign-invested enterprises and state-owned enterprises imported and exported 1.72 trillion yuan and 285.01 billion yuan respectively, accounting for 47.2% and 7.8% respectively.

In the first eight months, Jiangsu Province’s imports and exports to countries co-building the “Belt and Road” were 1.61 trillion yuan, an increase of 12.3%, driving the province’s import and export growth by 5.3 percentage points, and its share increased by 1.5 percentage points to 44.2% compared with the same period in 2023. Among them, imports and exports to ASEAN and South Korea were 569.01 billion yuan and 366.75 billion yuan respectively, an increase of 10.5% and 13.9% respectively.

Mechanical and electrical products play a significant role in boosting exports. In the first eight months, Jiangsu Province exported 1.6 trillion yuan of mechanical and electrical products, an increase of 10.4%, accounting for 68.3% of the province’s total export value, driving the province’s export growth by 7 percentage points. Among them, exports of computers and their parts, mobile phones, ships, and automobile parts increased by 5.3%, 37.1%, 75.1%, and 10.4% respectively.