A large number of containers are stocked at a yard in Yiwu. [Photo/WeChat account: yiwufb]

In the first 11 months of this year, Yiwu's imports and exports were valued at 522.12 billion yuan ($73.1 billion), an increase of 18.1 percent year-on-year, breaking the 500 billion yuan mark for the first time.

According to statistics from Yiwu Customs, the city's exports amounted to 461.62 billion yuan from January to November, an increase of 15.7 percent, while imports were valued at 60.5 billion yuan, a surge of 40 percent.

During this period, the top two exports were labor-intensive products and mechanical and electrical products, which were valued at 186.97 billion yuan and 172.73 billion yuan, up 21.7 percent and 10.7 percent, respectively.

Meanwhile, the city imported 32.47 billion yuan worth of consumer goods, a rise of 25.6 percent and accounting for 53.7 percent of the city's total imports. Imported beauty cosmetics and toiletries totaled 6.37 billion yuan, a leap of 54.4 percent. Imported semiconductor manufacturing equipment saw a whopping increase of 322.3 percent to 490 million yuan.

The market purchase trade model contributed much to the city's export growth. A total of 357.59 billion yuan worth of goods were exported through this model, an increase of 18.9 percent and accounting for 77.5 percent of the city's total exports.

In this period, the city's trade with Africa and Latin America was valued at 96.11 billion yuan and 83.43 billion yuan, respectively, increases of 25.6 percent and 25.5 percent. Trade with India and Saudi Arabia was valued at 28.01 billion yuan and 12.92 billion yuan, respectively, up 22.9 percent and 41.1 percent.

In the same period, trade with countries involved in the Belt and Road Initiative reached 321.21 billion yuan, up 19.6 percent and accounting for 61.5 percent of the city's total imports and exports.