Changzhou's foreign trade volume reached 301.78 billion yuan in 2021, surpassing the 300 billion mark for the first time, data from the Changzhou Customs showed on January 18.
Changzhou's exports and imports hit 219.64 billion yuan and 82.14 billion yuan in 2021, respectively. Exports recorded a growth rate of 24.9 percent, while imports rose by 32.4 percent compared to the same twelve months of 2020.
The European Union, the U.S., the Association of Southeast Asian Nations (ASEAN), Japan, and South Korea were Changzhou's top five trading partners in 2021, recording trade volume of 59.09 billion yuan, 44.3 billion yuan, 39.23 billion yuan, 26.39 billion yuan, and 20.56 billion yuan, respectively. Trade with countries along the routes of the Belt and Road Initiative in 2021 totaled 126.76 billion yuan, up 25.6 percent for the 12-month period ending in December 2021.
In 2021, Changzhou saw its exports of mechanical and electrical products hit 135.93 billion yuan, an increase of 27.1 percent, making up 61.9 percent of the city's total export value. In particular, the city registered surging exports of electric vehicle (EV) battery packs and auto parts, increasing by 111.7 percent and 18.5 percent, respectively.
The customs authority also noted the increasing imports of mechanical and electrical products, representing 39.3 percent of the city’s total import value last year.
Privately owned businesses contributed 160.83 billion yuan to Changzhou's foreign trade, which increased by 27.3 percent from a year earlier, accounting for 53.3 percent of the total trade volume.
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