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Suzhou's Import & Export Volume: 1/10 of China

Powerful momentum marks the import and export growth in the first half of 2005 in Suzhou. A report from "Yangtze Evening Paper" gives the figures of Suzhou's import and export during this period: the total import and export volume of Suzhou comprises 9.8% that of the whole country, putting Suzhou in the third place among the large and medium-sized Chinese cities; the export volume alone makes up 9.4% that of the whole country, ranking the third in China. 

An unexpected amount of US$ 63.03 billion was registered in Suzhou's import and export this year, an increase of 37.5% as compared with the corresponding period of last year, comprising 60.9% that of the whole province. The export volume reached US$ 3.2206 billion, which is 47.6% increase over the corresponding period of last year, and comprises 58.4% of the whole of Jiangsu Province. The gaps between Suzhou and Shanghai (the first place) and Shenzhen (the second place) are being narrowed down noticeably.

According to relevant sources, the sustained growth of open-type economy of Suzhou has given strong support to the development of the whole municipality. The export in foreign trade has now reached record high, while export-dependent degree reached 135%, increasing by 14% as compared with the same period last year. A feature of globalization is becoming more apparent in Suzhou's economy.

An encouraging fact is that, among the export commodities of Suzhou, 80% belong to electrical and machinery products, amounting to US$ 2.5745 billion, an increase by 57.9%. The biggest exporters of Suzhou are respectively Suzhou Industrial Park, Kunshan, and Suzhou High and New Tech District. In SIP, the export of electrical and machinery products make up 96% of the whole, and there have appeared 5 large enterprises, each with over 500 million USD value of import and export within 6 months.

July 20, 2005

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