(MENAFN) In the initial quarter of 2024, Northeast China's Heilongjiang Province showcased robust performance in its foreign trade sector, recording a total trade volume of goods amounting to 79.7 billion yuan (approximately 11.2 billion U.S. dollars), as reported by Harbin Customs on Monday. This figure represented a notable increase of 10.3 percent compared to the corresponding period last year.
The province's export activity surged significantly, with exports of goods totaling 21.88 billion yuan, marking an impressive 52 percent rise year on year. Concurrently, the import volume of goods reached 57.82 billion yuan, underscoring the province's dynamic engagement in international trade.
Heilongjiang's strategic collaboration with Belt and Road partner nations also witnessed substantial growth, with trade transactions totaling 68.15 billion yuan during the quarter, reflecting an 11.1 percent increase compared to the previous year. Notably, these transactions accounted for 85.5 percent of the province's total trade volume, emphasizing the significance of these partnerships in driving economic activity.
An analysis of export composition revealed a notable expansion in the export of mechanical and electrical products, which amounted to 9.16 billion yuan during the first quarter of 2024. This category experienced a remarkable 75.5 percent surge year on year. Specifically, exports of passenger cars, automatic data processing equipment and its components, and household appliances recorded substantial increases of 46 percent, 285.7 percent, and 233.5 percent, respectively, further illustrating the province's diversified export portfolio and its competitiveness in global markets.
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