Zhejiang's imports up 6.7% in H1

Containers are loaded and unloaded at Ningbo-Zhoushan Port in Zhejiang province. [Photo provided by Hangzhou Customs]

Zhejiang province's foreign trade reached 2.97 trillion yuan ($438.57 billion) in the first half of the year, up 8.6 percent year-on-year, with imports rising 6.7 percent to 703.16 billion yuan, according to Hangzhou Customs.

Industrial production and improving market demand supported import growth, particularly for industrial components, raw materials, and agricultural products.

Imports of mechanical and electrical products rose 17.5 percent to 124.63 billion yuan. Imports of integrated circuits, flat-panel display modules, and storage components increased 39.1 percent, 220 percent, and 160 percent, respectively.

Imports of metal ores climbed 17.7 percent to 83.75 billion yuan, contributing 1.9 percentage points to the province's overall import growth. Agricultural product imports rose 12.1 percent to 61.67 billion yuan, marking a fifth consecutive quarter of growth.

Trade with emerging markets continued to expand. Zhejiang's trade with these markets totaled 1.75 trillion yuan, up 9.9 percent, accounting for 58.8 percent of the province's total trade. Trade with ASEAN and Africa increased 25.6 percent and 21.6 percent, respectively.

Private enterprises remained the main driver of trade. Their imports and exports reached 2.46 trillion yuan, up 9.8 percent, accounting for 82.8 percent of the province's total trade and contributing 92.7 percent of overall trade growth.