According to Qingdao Customs District P.R. China, in the first quarter of this year, Qingdao's import and export value was RMB 205.98 billion, up 4.8% year on year. It accounted for 26.7% of Shandong's total foreign trade value during the same period. Qingdao's export value reached RMB 119.1 billion, up 10.4％, and its import value was RMB 86.88 billion, down 1.9%. Among the 15 sub-provincial cities in China, Qingdao ranked 5th after Shenzhen, Guangzhou, Ningbo and Xiamen in terms of the import and export value.
The main features of Qingdao's import and export trade in the first quarter of this year are as follows:
The proportion of general trade grew rapidly
In the first quarter, Qingdao's general trade import and export reached RMB 146.15 billion, increasing by 13.8% and accounting for 71% of its total import and export value, an increase of 5.6 percentage points. During the same period, the import and export value of processing trade amounted to RMB 31.15 billion, rising by 2.6%; the import and export value of bonded logistics was RMB 26.4 billion, down 24.8%.
The import and export of private enterprises maintained growth, accounting for nearly 70% of the total
In the first quarter, the import and export value of private enterprises in Qingdao was RMB 140.94 billion, growing by 2.5% and accounting for 68.4% of the total import and export value. During the same period, the import and export value of foreign-invested enterprises reached RMB 41.98 billion, up 19.5%; that of state-owned enterprises totaled RMB 23.03 billion, dropping by 3.3%.
The import and export with the European Union, the United States and Japan maintained growth
In the first quarter, Qingdao's import and export with the European Union, the United States and Japan were RMB 26.3 billion, RMB 23.4 billion and RMB 15.31 billion respectively, up 24%, 8.9% and 6.8% respectively; its import and export with the Association of Southeast Asian Nations and South Korea reached RMB 29.7 billion and RMB 14.97 billion respectively, down 14.5% and 3.7% respectively. The import and export with the above markets accounted for 53.3% of the total value. During the same period, China's import and export with Belt and Road Initiative (BRI) countries reached RMB 97.05 billion, decreasing by 3.5% and accounting for 47.1% of the total.
The export of mechanical and electrical products, labor-intensive products and agricultural products maintained growth
In the first quarter, Qingdao's export of mechanical and electrical products was RMB 59.2 billion, expanding by 12.8% and accounting for 49.7% of the total export value. Among them, the export value of household appliances was RMB 9.44 billion, up 29.5%; that of auto parts was RMB 5.54 billion, an increase of 7.8%; that of containers was RMB 3.54 billion, a surge of 81%. During the same period, the export of labor-intensive products totaled RMB 19.93 billion, growing by 6.6%. In addition, the export of agricultural products reached RMB 10.93 billion, up 7.5%.
The import of mechanical and electrical products, iron ore and soybean increased sharply while that of crude oil and refined oil declined sharply
In the first quarter, Qingdao's import of mechanical and electrical products rose by 66.8% to reach RMB 19.23 billion, accounting for 22.1% of the total import value. The import volume of iron ore was 9.114 million tons, up 52.6%; the value grew by 72.4% to reach RMB 8.48 billion, accounting for 9.8% of the total import value, increasing by 4.2 percentage points and stimulating import growth by 4 percentage points; the average price was RMB 930.5 per ton, up 13%. During the same period, the import value of crude oil hit RMB 8.07 billion, down 41.8%; that of soybean was RMB 5.16 billion, up 24.7%; that of refined oil reached RMB 4.68 billion, down 29.1%.
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