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Jiangsu Exports Exceeds US$20 Billion
The export volume of east China's Jiangsu province amounted to US$22.13 billion in the first ten months this year, becoming the second province in the country whose annual export volume has exceeded US$20 billion and falls only after Guangdong Province.
During the past decade, the export volume of Jiangsu has increased by a margin of 24 percent year on year, 10 percent higher than the national average nationwide, said Ye Jian, director of the Jiangsu Provincial Department of Foreign Trade and Economic Cooperation, last Saturday .
This year Jiangsu has witnessed an unprecedented growth in exports, which increased by 45.5 percent during the January-October period, with monthly export volume after March exceeding US$2 billion.
With its export volume ranked second and occupying over 10 percent of the national total at the end of October, Jiangsu is expected to enjoy an overall export volume of US$25 billion this year, eight times the figure in 1990.
Jiangsu's import and export volume is expected to account for more than 40 percent of its Gross Domestic Product (GDP) this year, surging 30 percent over 10 years ago.
Jiangsu's structure of exported goods has constantly been optimized, as the ratio of machinery, electrical and high-tech products to the overall has been dramatically improved. Meanwhile, a number of famous products with Jiangsu characteristics have been cultivated.
So far, the export of manufactured goods in the industrial sector has possessed over 95 percent of the total, of which, machinery and electrical products have 45.6 percent and the high-tech products 20 percent.
The export market for Jiangsu has expanded and it has established trade relations with more than 200 countries and regions.
According to Ye Jian, Jiangsu will try to double its export volume on the present basis in five years.
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