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Yantai's imports, exports hits $21.9b in first half of 2018

2018/7/26 13:53:35

The total value of Yantai's imports and exports reached 140.3 billion yuan ($21.9 billion) in the first six months of 2018, placing it second in Shandong province, according to statistics from Yantai Customs.

Yantai, a coastal city in East China’s Shandong province, saw exports increase by 2.3 percent to 79.1 billion yuan; while the city's imports reached 61.1 billion yuan.

The import value in agro products rose slightly by 2.8 percent to 7.7 billion yuan. The import value in copper concentrate, primary shaped plastic and iron ore saw a more significant increase, having values of 3.18 billion yuan, 1.28 billion yuan and 1.03 billion yuan, up 43.9 percent, 20.6 percent and 74.5 percent respectively.

South Korea was the largest trading partner with Yantai in this period. The total value of imports and exports to South Korea hit 25.1 billion yuan in the first half of this year, with 9 billion being exports and 16.1 being imports. The United States is the city’s second largest trading partner; Yantai’s total import and export value to the country reached 24.1 billion yuan.

In order to continue growth in the city’s booming import and export economy, Yantai is expected to promote trading cooperation with countries along the Belt And One Road route. It is hoped that the port city’s imports and exports to these countries, such as Indonesia, Poland, Qatar and Hungary, will help to maintain this steady growth.

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