Zhejiang ranked second in the country in the first 11 months of 2023 in terms of exports. The total value of the province's imports and exports reached 4.5 trillion yuan ($630.43 billion), a year-on-year increase of 4.4 percent, according to the latest figures released by Hangzhou Customs.
Exports amounted to 3.28 trillion yuan, an increase of 3.5 percent, while imports reached 1.22 trillion yuan, an increase of 6.8 percent.
The province's total foreign trade accounted for 11.8 percent of the national total, imports accounted for 15.2 percent of the national total, and exports accounted for 7.5 percent of the national total, ranking third, second, and fifth in the country, respectively.
From Jan to Nov, Zhejiang's foreign trade with countries involved in the Belt and Road Initiative amounted to 1.63 trillion yuan, an increase of 10.1 percent. Imports from Australia reached 89.29 billion yuan, a growth of 22.4 percent, which is an increase of 7.8 percentage points compared to the same period last year.
From Jan to Nov, Zhejiang's exports of electromechanical products reached 1.49 trillion yuan, an increase of 5.9 percent, accounting for 45.7 percent of the province's total exports, an increase of 1.1 percentage points.
During the same period, exports of labor-intensive products reached 998.87 billion yuan, an increase of 3.6 percent, surpassing the national average by 6.2 percentage points. Exports of clothing, plastic products, footwear, and luggage increased by 3.0 percent, 8.5 percent, 5.6 percent, and 25.8 percent, respectively.
Imports of bulk commodities also increased from Jan to Nov.
During the period, Zhejiang imported 78.596 million tons of energy products, 143 million tons of metal ore, and 2.912 million tons of grains and other bulk commodities, increasing 40.3 percent, 19.0 percent, and 29.1 percent, respectively, and contributing a total of 4.0 percentage points to the growth of the province's total imports.
