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Inner Mongolia's foreign trade surpasses national average growth rate

2024-05-29 (goinnermongolia.com.cn)

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A view of the Hohhot Comprehensive Bonded Zone in Inner Mongolia. [Photo/Inner Mongolia Daily]

Facing a complex backdrop of weakened external demand, shrinking orders, and intensified market competition, foreign trade in North China's Inner Mongolia autonomous region has shown strong resilience and potential in the January-April period, with growth rates surpassing the national average.

According to customs data, the region's total imports and exports reached 66.03 billion yuan ($9.05 billion) from January to April, marking an 8.8 percent year-on-year increase, exceeding the national average growth rate by 3.1 percentage points.

Exports amounted to 24.25 billion yuan, up 5.1 percent year-on-year, surpassing the national average growth rate by 0.2 percentage points, while imports totaled 41.78 billion yuan, reflecting an 11.1 percent increase year-on-year, surpassing the national average growth rate by 3.3 percentage points.

"Foreign trade is a crucial part of economic development. We are steadfastly aligning with annual targets by implementing robust measures such as identifying new growth drivers, enhancing policy efficiency, promoting innovative development, and overcoming bottlenecks to continuously forge new development paths for foreign trade," remarked Ding Xiaolong, director of the foreign trade department of the Inner Mongolia Autonomous Regional Department of Commerce.