Foreign trade


2000 saw a growth of 36.8 per cent in Shandong's total trade value. Import and export value rose from US$18.271 billion in 1999to US$24.99 billion.

Total export was US$15.53 billion in value, up by 34.1 per cent over US$11.58 billion in 1999. This figure was equivalent to 15.1 per cent of the Province's GDP, which was RMB854.24 billion (US$103.04 billion). The province 's export contributed 6.2 per cent to the country's total export value, ranking it fifth in China.

Export of primary products generated 22.8 per cent of the export earnings (US$2.64 billion). Export of manufactured products amounted to US$8.94 billion, accounting for 77.2 per cent of the province's total export value.

Japan has been an important export market for Shandong over the last few years . In 2000, Japan was first among the province's five major export markets (see Table 7.15.2), taking 28.1 per cent of the total export.

Table 7.15.2: Top five export markets, Shandong Province, 1995 and 2000

Country/region

Export value (US$ million)

% of export total

1995

Japan

2,857.31

29.6

Republic of Korea

1,690.51

17.5

Hong Kong

1,558.23

16.2

USA

1,265.36

13.1

Germany

327.28

3.4

Total

7,698.69

79.8

2000

Japan

4,362.72

28.1

USA

2,899.06

18.7

Republic of Korea

2,272.08

14.6

European Union

2,047.01

13.2

Hong Kong

813.24

5.2

Total

12,394.11

79.8

The USA took the second position, with a share of 18.7 per cent.

Import accounted for 37.9 per cent of Shandong's total trade, with the total value being US$9.46 billion, an increase of 41.4 per cent over US$6.69 billion in 1999 (see Table 7.15.3).

Table 7.15.3: Top five import markets, Shandong Province, 1995 and 2000

Country/region

Import value (US$ million)

% of import total

1995

Japan

683.80

22.5

Republic of Korea

664.50

21.8

USA

506.62

16.6

Hong Kong

266.74

8.8

Germany

119.35

3.9

Total

2,241.01

73.6

2000

Republic of Korea

3,393.03

35.9

Japan

1,602.14

16.9

European Union

1,011.12

10.7

USA

883.10

9.3

Australia

228.91

2.4

Total

7,118.3

75.2




Doing Business with China
Doing Business with China
ISBN: 1905050089
EAN: 2147483647
Year: 2003
Pages: 648
Authors: Lord Brittan

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