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China's Tianjin Port's foreign trade climbs 8.4% YoY to £87.9 bn

26 Jun '23
1 min read
Pic: Shutterstock/Simlinger
Pic: Shutterstock/Simlinger

Insights

  • Tianjin port in North China saw foreign trade surge 8.4 per cent YoY to 812.1 billion yuan (£87.9 billion) in Jan-May 2023.
  • Trade with ASEAN rose 26.4 per cent YoY, making it the port's top trading partner; private firms contributed significantly, with a 23.4 per cent YoY increase.
  • The port also doubled its aircraft imports, with a total of 46.
North China’s Tianjin port recorded an 8.4 per cent year-on-year (YoY) increase in foreign trade, reaching 812.1 billion yuan (around £87.9 billion) in January-May 2023, as per data released by Tianjin Customs.

Trade volume with the Association of Southeast Asian Nations (ASEAN) witnessed an impressive 26.4 per cent YoY rise, totalling 127.08 billion yuan. This growth rate positioned ASEAN as the port’s leading trading partner.

Private enterprises played a significant role, contributing 448.23 billion yuan to the total trade volume, up 23.4 per cent from the previous year.

Tianjin port also topped the list for aircraft imports in the country, importing twice the number of aircraft compared to the same period last year, with a total of 46 aircraft.

ALCHEMPro News Desk (NB)
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