Inner Mongolia's foreign trade surges 30.5% in first 8 months
North China's Inner Mongolia autonomous region recorded 181.12 billion yuan ($27.03 billion) in total foreign trade in the first eight months of this year, up 30.5 percent year-on-year.
The growth rate was 12.9 percentage points higher than the national average, ranking fourth nationwide, while the region's trade volume ranked 24th. Exports rose 27.5 percent to 68.19 billion yuan, while imports increased 32.3 percent to 112.93 billion yuan.
Major commodities continued to post solid growth. Copper ore imports surged 47.2 percent to 55.71 billion yuan, while coal imports rose 30.8 percent to 26.5 billion yuan. Exports of mechanical and electrical products reached 15.85 billion yuan, up 11.4 percent, and agricultural exports rose 20.7 percent to 9.28 billion yuan.
New trade formats also gained momentum. Border trade between residents in Ereenhot and Manzhouli cities reached 430 million yuan and 290 million yuan, respectively, up 105.1 percent and 77.4 percent. Bonded logistics trade rose 70.6 percent to 43.29 billion yuan.
Inner Mongolia also expanded its international trade. Trade with Mongolia and Russia rose 53.1 percent and 62.1 percent, respectively, while trade with countries participating in the Belt and Road Initiative reached 152.4 million yuan, up 39.9 percent.
The region had 3,996 foreign trade enterprises with actual trading activity during the period, an increase of 28.5 percent year-on-year, reflecting growing momentum among foreign trade businesses.
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