Shandong sees positive year-on-year growth rate in import and export

According to customs statistics, in the first 8 months of 2020, Shandong’s import and export volume of goods reached 1.34 trillion yuan, a year-on-year increase of 1.5%, reversing the downward trend earlier this year, and the growth rate ranked third among major provinces and cities of foreign trade in China. The export volume of the province was 756.76 billion yuan, an increase of 5.9%; the import volume was 579.88 billion yuan, a decrease of 3.8%. The trade surplus was 176.87 billion yuan, an increase of 58.3%.

In August, Shandong’s import and export volume reached 198.81 billion yuan, a year-on-year increase of 21%, a single-month record high. The export volume was 118.48 billion yuan, a year-on-year increase of 28.2%; the import volume was 80.33 billion yuan, a year-on-year increase of 11.7%.

In the first 8 months, Qingdao and Yantai remained the top two cities in terms of import and export value, with 395.54 billion yuan and 185.96 billion yuan respectively, jointly accounting for 43.5% of the province's total import and export value during the same period. Zaozhuang, Jinan, Linyi and Jining witnessed double-digit growth year-on-year, with growth rates of 38.2%, 31.9%, 27.6%, and 11.7% respectively.