Linyi's trade volume with Africa's emerging markets soars

Recently, reporters received information from Linyi customs that in the first 11 months of this year, Linyi's total imports and exports to African countries and regions reached 19.47 billion yuan, far exceeding last year's total of 12.89 billion yuan, year-on-year (year-on-year) growth of 75.6 percent, accounting for 12.8 percent of the city's total imports and exports, of which exports to Africa totaled 17.44 billion yuan, up 107.3 percent.

It is understood that Nigeria, Ghana, Tanzania, Kenya and Cã ́te d'ivoire are Linyi's top five trading partners with Africa, imports and exports reached 2.78 billion yuan, 1.75 billion yuan, 1.4 billion yuan, 1.22 billion yuan and 1.19 billion yuan respectively, up by 121.9% , 129.9% , 190.4% , 142.7% and 246.4% respectively, together, they account for 42.9 percent of Linyi's total imports and exports to the continent. In the same period, the value of imports and exports to other emerging markets, including Togo, Senegal, Guinea, Angola and Cameroon, rose by 746.3 percent, 288.8 percent, 215.7 percent, 188.1 percent and 216.3 percent respectively.

Labour-intensive goods such as clothing and footwear and electromechanical products such as auto parts were the main export items, accounting for 81.9 per cent of Linyi's total exports. Of this total, the export of clothing and footwear increased by 16.4 times and 364.9 percent respectively, and the export of auto parts increased by 63.6 percent. In addition, imports of metal ore from Africa increased by 87.6% to 1.026 million tons, with a value of 1.35 billion yuan, up by 19.3%, accounting for 66.3% of the total value of imports from Africa, up by 24.2 percentage points, imports of nickel ore surged by 189.7 per cent.

In recent years, more and more Linyi enterprises have been exploring African markets. Linyi customs will continue to pay attention to the core needs of enterprises and promote Least Developed Countries preferential tariffs, AEO mutual recognition and other policy dividends, to help Linyi Enterprises smooth the market and the African market production and supply chain connection, for the jurisdiction of foreign trade protection.

Translated by intern Liu Yue

Editor：Lotus