A bustling scene at the Yiwu International Trade Market in Yiwu, Jinhua, Zhejiang province. [Photo/Tide News]
The foreign trade of Yiwu, Jinhua, Zhejiang province experienced a significant surge from January to February, with imports and exports valued at 116.6 billion yuan ($16.20 billion), a 47.3 percent increase compared to the previous year, according to statistics released by Yiwu Customs.
During this period, exports amounted to 102.77 billion yuan, a 41.0 percent increase, while imports reached 13.83 billion yuan, a remarkable 119.9 percent increase.
Labor-intensive products and electromechanical products exhibited rapid growth, with the export value of labor-intensive products reaching 42.19 billion yuan, a 51.8 percent increase, and the export of plastic products amounting to 11.53 billion yuan, a 57.1 percent increase.
Yiwu's trade with Africa reached a record 21.88 billion yuan, while the fastest growth was seen in Latin America, with a remarkable year-on-year increase of 68.2 percent. Trade with countries participating in the Belt and Road Initiative stood at 75.93 billion yuan, reflecting a substantial 56.6 percent increase.
The city also witnessed a surge in the import of consumer goods, which reached 7.29 billion yuan, a significant 73.0 percent increase. Beauty and skincare products accounted for 1.43 billion yuan, a 78.9 percent increase.
Yiwu's exports through market procurement trade reached 84.06 billion yuan, a 48.7 percent increase and accounting for 81.8 percent of the city's total exports.
