according to data recently released by suzhou customs, suzhou's foreign trade experienced robust growth in the first eight months of the year. the city achieved a total foreign trade value of 1.68 trillion yuan ($235.26 billion), an 8.6-percent increase year-on-year.
taicang port, a major port in suzhou. [photo/vcg]
foreign-invested enterprises played a dominant role in these trade activities. from january to august, these enterprises recorded 970.26 billion yuan in imports and exports, an 8.2-percent increase, accounting for 57.9 percent of the city's total foreign trade.
the association of southeast asian nations (asean) remained suzhou's largest trading partner. between january and august, suzhou's trade with asean countries reached 269.14 billion yuan, a 10.3-percent increase, making up 16.1 percent of the city's total foreign trade. additionally, exports to latin america and india grew by 14.2 percent and 20.4 percent, respectively, while imports from the middle east rose by 17.6 percent.
cross-border e-commerce, as a new driver of foreign trade, showed steady growth. from january to august, suzhou's e-commerce imports and exports amounted to 11.38 billion yuan, a 28.3-percent increase, accounting for 0.7 percent of the city's total foreign trade. of this, exports were valued at 11.02 billion yuan, up 26.6 percent, and imports were valued at 360 million yuan, up 125.8 percent.