Yiwu Customs on Oct 24 revealed that the value of Yiwu’s imports and exports reached 432.1 billion yuan ($59.03 billion) in the first three quarters, a 22 percent year-on-year increase.

Exports were valued at 383.13 billion yuan, an 18.9 percent growth, while imports were valued at 48.97 billion yuan, a 52.8 percent increase.

In the first three quarters, labor-intensive product exports reached 154.65 billion yuan, representing a 25 percent growth and contributing 40.4 percent to the total value of Yiwu’s exports. Plastic product exports surged to 41.32 billion yuan, a 31.5 percent increase, while exports of boxes and similar containers soared to 15.56 billion yuan, a 38.5 percent growth.

In the first three quarters, Yiwu's imports of consumer goods reached 25.51 billion yuan, a 23.7 percent increase and accounting for 52.1 percent of the city's total imports. Imports of beauty, cosmetic and hygiene products surged to 4.66 billion yuan, a 56.4 percent increase.

Furthermore, in the first three quarters, Yiwu's trade with Africa and Latin America reached 79.35 billion yuan and 68.24 billion yuan, respectively, reflecting growth rates of 32.6 percent and 31.6 percent.

Additionally, trade with India and Saudi Arabia reached 21.75 billion yuan and 10.86 billion yuan, respectively, indicating growth rates of 18.9 percent and 55.6 percent.