Nantong Port. [Photo provided to en.nantong.gov.cn]

The foreign trade of Nantong in East China's Jiangsu province expanded by 16.7 percent year-on-year in the first 10 months of this year, the fastest growth in the province and surpassing the provincial average by 10.8 percentage points, according to statistics from Nantong Customs.

From January to October, the city's foreign trade reached 370.22 billion yuan ($52.19 billion), securing its fourth position in the province. Exports stood at 256.94 billion yuan, representing a 24.3 percent increase, whereas imports totaled 113.28 billion yuan, up 2.5 percent.

In October, following rapid growth in August and September, when trade exceeded 40 billion and 50 billion yuan, Nantong's foreign trade reverted to previous levels. Imports and exports totaled 36.28 billion yuan, marking a 12 percent year-on-year increase. Exports alone amounted to 26.33 billion yuan, a rise of 28.4 percent.

Nantong's trade with ASEAN doubled, and trade with the United States reached a nine-month high. In October, trade with ASEAN and the EU totaled 7.56 billion yuan and 4.69 billion yuan, respectively, marking increases of 107.8 percent and 5.1 percent. Trade with the US was 3.36 billion yuan, representing 9.3 percent of the city's overall trade.

Products such as ships and electrical equipment fueled rapid export growth. In October, Nantong's exports of mechanical and electrical products reached 16.23 billion yuan, up 56.6 percent. Ship exports specifically totaled 5.18 billion yuan, maintaining a high level above 5 billion yuan for two consecutive months, representing a 357.8 percent increase.

Nantong's foreign trade has grown quickly this year despite some instability and uncertainty. The strong momentum and steady backing from key industries such as shipbuilding and offshore engineering, along with an improving trade environment, indicate that imports and exports are likely to remain high as the year concludes.