According to Hohhot Customs, in the first three quarters of this year, the total import and export value of Inner Mongolia was 153.66 billion yuan, exceeding 150 billion yuan for the first time in history, up 11.7% year-on-year, 6.4 percentage points higher than the national growth rate, ranking 6th among all provinces and cities in China. Among them, the export value was 62.31 billion yuan, a year-on-year increase of 16.7%. The import value was 91.35 billion yuan, a year-on-year increase of 8.5%.
The steady growth of imports and exports depends on both supply and demand. In the first three quarters, as advantageous products of the autonomous region, the export value of M&E products was 23.18 billion yuan, up 17.8% year-on-year, accounting for 37.2% of the region's foreign trade export value. The export value of agricultural products reached 7.85 billion yuan, up 41.2% year-on-year, and that of steel 6.1 billion yuan, up 3.3% year-on-year. In addition, the strong demand in the international market has driven the strong export of "New Three" of foreign trade. In the first three quarters, the export of "New Three" products in the autonomous region was 3.3 billion yuan, up 57.8% year on year. Driven by the steady growth of industrial production and consumption market, the region's import of bulk commodities such as coal, copper ore and iron ore in the first three quarters was 72.77 billion yuan, up 10.5% year on year, accounting for 79.7% of the region's foreign trade import value. Enterprises as the "vanguard" in market expansion and order acquisition. In the first three quarters, various business entities in the region have remained active. Among them, private enterprises achieved an import and export value of 120.21 billion yuan, a year-on-year increase of 16.8%, accounting for 78.2% of the region's total foreign trade import and export value.
According to the relevant person in charge of the Statistics and Analysis Department of Hohhot Customs, since this year, Inner Mongolia's economy has been operating steadily with progress on the whole. The high-quality development of foreign trade has been further promoted, the import and export of goods have increased steadily, and the structure of foreign trade has continued to be optimized. With the accumulation of positive factors for foreign trade development, the comprehensive competitive advantage in foreign trade has been further consolidated. In the first, second and third quarters, the import and export scale of foreign trade in the region increased quarter by quarter to 47.56 billion yuan, 52.75 billion yuan and 53.35 billion yuan respectively, laying a solid foundation for maintaining "quality improvement, quantity stability" in foreign trade throughout the year.
Disclaimer：The above content is translated from Chinese version of Hohhot Customs. The Hohhot Customs version shall prevail.