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Shandong’s foreign trade hits new highs for six consecutive years

Source: sd.chinaEditor: 张新娜02-14-2022 11:11

In 2021, in the face of the complex and severe external environment, Shandong's economy rose against the trend, with the regional GDP exceeding 8 trillion yuan for the first time, an increase of 8.3% over the previous year. Particularly remarkable achievements were made in the province’s foreign trade.

In 2021, the total import and export value of Shandong Province reached 2.93 trillion yuan, a record high for six consecutive years; an increase of 32.4% over 2020, an increase of 43.1% over 2019, and the proportion of the province’s foreign trade import and export value in the country’s total rose from 6.9% in 2020 to 7.5%.

The Regional Comprehensive Economic Partnership (RCEP) came into effect on January 1 this year, bringing new opportunities to Shandong. Prior to this, the province had already had close economic and trade cooperation with RCEP member countries, achieving a total import and export value of 1.03 trillion yuan in 2021, a year-on-year increase of 32.9%, which is 0.5 percentage points higher than the overall growth rate of foreign trade, and accounting for 35.2% of Shandong’s total foreign trade import and export value.