Zhejiang province recorded 2.73 trillion yuan ($380.42 billion) in total foreign trade in the first half of 2025, up 6.6 percent year-on-year, according to Hangzhou Customs data released on July 18.

Exports exceeded 2 trillion yuan for the first time in a half-year period, reaching 2.07 trillion yuan, an increase of 9.1 percent. Imports totaled 659.27 billion yuan, down 0.4 percent.

Zhejiang's share of national trade rose to 12.5 percent for total trade, 15.9 percent for exports, and 7.5 percent for imports — up by 0.4, 0.2, and 0.2 percentage points, respectively. The province contributed 19.8 percent to the country's overall export growth, the highest nationwide.

Trade with the EU and ASEAN, Zhejiang's two largest markets, rose 11 percent and 16.3 percent, respectively, reaching 421.39 billion yuan and 417.03 billion yuan.

Exports to emerging markets also climbed: up 5.4 percent to the Middle East, 2.7 percent to Latin America, and 10.6 percent to Africa. Trade with Belt and Road countries totaled 1.56 trillion yuan, up 9.3 percent and accounting for 57.1 percent of Zhejiang's total.

Foreign trade entities remained vibrant. More than 110,000 companies in Zhejiang recorded import-export activity in the first half, up 6.8 percent. Private enterprises contributed 2.24 trillion yuan in trade, up 8.1 percent and accounting for 81.9 percent of the provincial total — an increase of 1.2 percentage points year-on-year.

They drove 6.6 percentage points of the province's overall trade growth. Foreign-invested firms saw trade rise 4.7 percent to 337.01 billion yuan, outpacing the national average by 2.3 percentage points.

The automotive industry stood out, with vehicle exports rising 30.7 percent and auto parts up 13.1 percent.