Yiwu Customs recently released data showing that in the first seven months of this year, the total value of imports and exports in Yiwu reached 321.1 billion ($43.95 billion), marking an increase of 19.7 percent compared to the same period last year.

Among these figures, exports accounted for 283.72 billion yuan, marking a year-on-year growth of 16.1 percent, while imports reached 37.38 billion yuan, reflecting a 57.4 percent increase.

From January to July, Yiwu's exports of labor-intensive products reached 113.12 billion yuan, demonstrating a 21.1 percent growth. Yiwu's exports of electromechanical products amounted to 108.14 billion yuan, marking a growth of 11.4 percent.

Yiwu's imports of consumer goods from January to July reached 19.69 billion yuan, showcasing a year-on-year growth of 27.7 percent. Imports of beauty and cosmetics products, as well as personal care items, reached 3.41 billion yuan, reflecting a year-on-year growth of 56.6 percent.

From January to July, Yiwu's trade with Africa amounted to 59.20 billion yuan, representing a 31.6 percent increase compared to the previous year. Meanwhile, trade with Latin America totaled 49.42 billion yuan, experiencing a growth of 32.7 percent.

Additionally, trade with India and Saudi Arabia saw imports and exports worth 15.39 billion yuan and 8.06 billion yuan respectively, representing year-on-year growth rates of 11.3 percent and 54.6 percent.

This year marks the 10th anniversary of the inception of the Belt and Road Initiative. Over the past decade, Yiwu has expanded its trade with countries and regions along the Belt and Road.

According to Yiwu Customs, from January to July, Yiwu's total trade with Belt and Road countries amounted to 119.64 billion yuan, marking an 18.9 percent increase compared to the previous year.