Inner Mongolia sees record foreign trade volume in 2018

HOHHOT - The import and export volume of North China's Inner Mongolia autonomous region reached 103.44 billion yuan ($15.3 billion) last year, a year-on-year increase of 9.9 percent, local authorities said Friday.

It is the first time the region's foreign trade volume has surpassed 100 billion yuan, according to the customs authorities of Hohhot, the regional capital.

In breakdown, the region's import volume rose 7.5 percent year-on-year to 65.57 billion yuan, while its export volume reached 37.87 billion yuan, a year-on-year growth of 14.4 percent.

Jiao Zhijun, a regional customs official, said Mongolia, Russia and Australia were the region's major trade partners last year, accounting for 56.2 percent of the region's foreign trade volume.

Jiao added that Inner Mongolia saw its foreign trade with countries participating in the Belt and Road Initiative reach 69.93 billion yuan in 2018, up 14.6 percent year-on-year.

Steel, organic chemicals, and mechanical and electrical products were among the region's major exports, while its major imports include coal, copper and iron ores.