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Shandong's quarterly trade with Japan declines 1.1pc to US$5.22 billion

EASTERN China's Shandong province posted a 1.1 per cent year-on-year decline in total trade value with Japan to CNY32.63 billion (US$5.22 billion) in the first quarter of the year

Shandong's quarterly trade with Japan declines 1.1pc to US$5.22 billion
20 May 2014 - 18:09
Shandong's quarterly trade with Japan declines 1.1pc to US$5.22 billion

EASTERN China's Shandong province posted a 1.1 per cent year-on-year decline in total trade value with Japan to CNY32.63 billion (US$5.22 billion) in the first quarter of the year, reports Xinhua.

Export value in the period fell 0.3 per cent year on year to CNY24.16 billion, while import value went down 3.4 per cent to CNY8.46 billion.

Provincial import and export value increased 2.1 per cent year on year and 71.2 per cent month on month to CNY12.04 billion in March after a sharp drop in February. 

Exports grew 2.1 per cent year on year and 72.4 per cent month on month to CNY8.4 billion. Imports rose two per cent year on year and 68.7 per cent month on month to CNY3.63 billion.

In the first three months, Shandong's general trade with Japan increased 1.1 per cent year on year to CNY18.73 billion, accounting for 57.4 per cent of its total trade value with the country. 

While processing trade with Japan dropped 0.3 per cent to CNY12.44 billion, taking up 38.1 per cent. Trade under special customs supervision decreased 29.7 per cent to CNY1.38 billion, 4.2 per cent of the total.

From January to March, trade value with Japan of foreign-invested enterprises in the province declined 6.7 per cent to CNY16.79 billion, accounting for 51.5 per cent.

Trade value of private enterprises climbed 6.7 per cent to CNY12.51 billion, 38.4 per cent of the total, and state-owned enterprise trade grew 1.5 per cent to CNY3.32 billion, 10.2 per cent of the total. 

Agricultural produce, garments and accessories and mechanical and electrical products are the top three categories of exports to Japan and accounted for 70.4 per cent of the provincial total export value to Japan. 

Imports are mainly mechanical and electrical products, which increased 10.4 per cent in the quarter to CNY5.31 billion, 62.8 per cent of the total import value from Japan.

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