In 2024, Shandong province witnessed a significant milestone in its foreign trade sector, with imports and exports reaching a record high of 3.38 trillion yuan ($462 billion), marking a 3.5 percent year-on-year increase. Specifically, exports totaled 2.08 trillion yuan, surpassing 2 trillion yuan for the first time, while imports amounted to 1.3 trillion yuan.

December 2024 alone saw imports and exports amounting to 330.3 billion yuan.

Shandong's trade performance in each quarter of 2024 exhibited steady growth, contributing to its position as the sixth-largest contributor to China's total trade volume, accounting for 7.7 percent of the national figure.

The province's key trade partners in 2024 were the ASEAN countries, the United States, and the European Union, underscoring the diversification of Shandong's trade network.

Machinery and electronic products emerged as the key export category, totaling 976.2 billion yuan and representing 46.9 percent of the province's total exports.

On the import front, Shandong province saw bulk commodity imports increase by 7.5 percent in 2024, with imports of energy products, metal ores, and grains rising by 4.2 percent, 9.7 percent, and 0.7 percent, respectively. These figures underscore Shandong's resilience and strategic positioning in the global trade landscape.