Foreign trade
Qingdao recorded a hefty increase in its total foreign trade value in 2000, from US$7.756 billion in 1999 to US$10.831 billion, an increase of 39.8 per cent.
Over 60 per cent of the trade was contributed by the city's robust exports, which were valued at US$6.114 billion, a rise of 37.3 per cent from US$4.463 billion in 1999. Total export value was equivalent to 43.97 per cent of the total GDP of Qingdao, which stood at RMB115.12 billion (US$13.906 billion), and accounted for 39.37 per cent of the total export value of the province .
The city exported US$805 million worth of primary goods, 13.2 per cent of the total export value. Export of manufactured products amounted to US$5.307 billion, or 86.8 per cent of the total export value.
Exports were destined for 179 countries and regions (see Table 7.35.2). The two largest export markets, Japan and the USA, had a combined share of over 50 per cent of the city's total exports.
| Country/region | Export value (US$ million) | % of export total |
|---|---|---|
| 1995 | ||
| Japan | 709.05 | 28.93 |
| Republic of Korea | 515.92 | 21.05 |
| Hong Kong | 461.91 | 17.01 |
| USA | 342.47 | 13.97 |
| Singapore | 67.33 | 2.74 |
| Total | 2,096.68 | 85.9 |
| 2000 | ||
| Japan | 1,575.76 | 25.8 |
| USA | 1,556.14 | 25.5 |
| Republic of Korea | 808.37 | 13.2 |
| Hong Kong | 301.87 | 4.9 |
| Germany | 280.16 | 4.6 |
| Total | 4,522.3 | 74 |
Total import in 2000 increased by 43.3 per cent from US$3.292 billion in 1999to US$4.717 billion. Import of primary commodities came to US$843 million, accounting for 17.9 per cent of the total import value, and import of manufactured products was US$3.868 billion, or 82.1 per cent of the total import value.
The two largest suppliers of Qingdao's imports were Korea and Japan (see Table 7.35.3), who had a combined share of 61.8 per cent in Qingdao's total import value.
| Country/region | Import value (US$ million) | % of import total |
|---|---|---|
| 1995 | ||
| Japan | 449.73 | 34.4 |
| Republic of Korea | 344.25 | 26.2 |
| USA | 201.05 | 15.3 |
| Taiwan Province | 45.69 | 3.5 |
| Total | 1,040.72 | 79.4 |
| 2000 | ||
| Republic of Korea | 2,025.38 | 42.9 |
| Japan | 839.74 | 18.9 |
| USA | 435.59 | 9.2 |
| Italy | 119.47 | 2.5 |
| Germany | 109.84 | 2.3 |
| Total | 3,530.02 | 75.8 |
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