Foreign trade

In 2000, Yantai City reported an increase of 37.2 per cent in its total foreign trade value, which was US$3.139 billion over US$2.288 billion in 1999.

Total export value was US$1.966 billion, up 34.2 per cent over US$1.466 billion in 1999, and equivalent to 18.5 per cent of the City's GDP of RMB88 billion (US$10.6 billion). It also contributed 12.66 per cent to the total export value of Shandong province .

Export of primary and manufactured products totalled US$649 million and US$1.317 billion respectively, accounting for 33 per cent and 67 per cent of total export value.

The city's exports were destined for 136 countries and regions , 11 more than in 1999. The top five export markets are shown in Table 7.34.2.

Table 7.34.2: Top five export markets, Yantai City, 1995 and 2000

Country/region	Export value (US$ million)	% of export total
1995
Japan	374.10	26.49
Hong Kong	255.20	18.07
Republic of Korea	247.54	17.53
USA	183.57	13.00
Taiwan Province	61.34	4.34
Total	1,121.75	79.43
2000
Japan	673.37	34.2
USA	397.55	20.2
Republic of Korea	295.41	15.0
European Union	204.56	10.4
Hong Kong	69.17	3.5
Total	1,640.06	83.3

Import value totalled US$1.173 billion, an increase of 42.6 per cent over US$820 million in 1999. Import of primary and manufactured products amounted to US$306 million and US$867 million respectively, or 26.1 per cent and 73.9 per cent of the total import value.

Imports came from 74 countries and regions, though Korea took an overwhelming share of 41.9 per cent of the total (see Table 7.34.3).

Table 7.34.3: Top five import markets, Yantai City, 1995 and 2000

Country/region	Import value (US$ million)	% of import total
1995
Hong Kong	67.39	20.74
Japan	54.31	16.71
Republic of Korea	41.05	12.63
Singapore	37.70	11.60
USA	34.13	10.50
Total	234.58	72.18
2000
Republic of Korea	491.42	41.9
Japan	194.25	15.6
EU	179.78	15.3
USA	75.04	6.4
Australia	53.97	4.6
Total	994.46	83.8