Nantong Customs officers inspect the products to be exported. [Photo/Nantong Daily]

The foreign trade volume of Nantong in Jiangsu province reached 394.99 billion yuan ($54.20 billion) in 2024, a 12.9 percent year-on-year increase and ranking second in the province, according to the latest statistics from Nantong Customs.

Of this total, exports amounted to 260.82 billion yuan, an increase of 13.9 percent from the previous year, while imports reached 134.17 billion yuan, up by 10.8 percent over 2023.

Since this year, Nantong's foreign trade has continued to strengthen, setting new records. In August, the import and export volume in the city reached 48.78 billion yuan, significantly surpassing the previous historical monthly record of 37.68 billion yuan.

In terms of market expansion, Nantong's trade with traditional markets such as the United States, Europe, and Japan amounted to 149.72 billion yuan last year, a 4.6 percent year-on-year increase. Trade with countries involved in the Belt and Road Initiative reached 199.86 billion yuan in the same time, up 17.9 percent year-on-year, marking four consecutive years of growth and accounting for 50.6 percent of the city's total volume.

Nantong's foreign trade has been shifting towards high-end products. The city's export volume of high-tech products reached 59.47 billion yuan in 2024, a 28.3 percent year-on-year increase, accounting for 22.8 percent of the city's total export value.

Additionally, Nantong's foreign trade sector has shown vitality and competitiveness among leading enterprises. In 2024, the number of foreign trade enterprises in the city with import and export performance reached 8,673, an increase of 602 compared to the previous year, setting a new historical high.