Hohhot foreign trade maintains strong momentum in Q1

In the first quarter of this year, Hohhot achieved a total import and export trade value of 6.5 billion yuan ($892 million), representing a year-on-year increase of 37.5 percent.

Imports reached 2.8 billion yuan, rising by 36.5 percent, while exports totaled 3.7 billion yuan, marking a 38.2 percent increase. This rapid growth underscores the strong resilience of the city's foreign trade sector.

Hohhot's main imported goods included agricultural products and food, with values of 950 million yuan and 770 million yuan, respectively. For exports, precious metal products led the way with a value of 1.1 billion yuan, followed by electromechanical products at 440 million yuan and pharmaceutical materials and medicines at 430 million yuan.

Countries involved in Belt and Road Initiative remained Hohhot's most significant trade market, contributing 2.5 billion yuan in trade and accounting for 37.8 percent of the city's total trade value. Trade with the European Union reached 690 million yuan, up 19.2 percent from the same period last year.

Key trading partners included Hong Kong with a trade value of 2.35 billion yuan, the United States at 620 million yuan, New Zealand at 570 million yuan, and Mongolia at 420 million yuan.

Private enterprises were the dominant force in Hohhot's foreign trade. In the first quarter, these businesses recorded a trade value of 5 billion yuan, an increase of 56.9 percent year-on-year. They accounted for 77.4 percent of the city's total trade, up 9.7 percentage points from the previous year, and played a crucial role in driving the overall growth of Hohhot’s foreign trade.