The eastern coastal city of Qingdao, Shandong province saw robust growth in foreign trade in the first quarter of 2021, according to data from Qingdao customs.

In the first three months of this year, the total imports and exports value of Qingdao hit 177.93 billion yuan ($27.67 billion), an increase of 31.6 percent over the same period last year, accounting for 28.8 percent of Shandong's total figure.

The coastal city of Qingdao boasts a vibrant economy. [Photo/VCG]

Over the same period, the city's exports reached 98.85 billion yuan, up 33.1 percent year-on-year, while imports hit 79.08 billion yuan, up 29.8 percent.

The city's general trade imports and exports grew rapidly, reaching 121.53 billion yuan in the first quarter, up 35.1 percent, accounting for 68.3 percent of the city's total foreign trade.

The imports and exports of processing trade in Qingdao reached 30.14 billion yuan, up 22.3 percent, accounting for 16.9 percent of the city's total. Its foreign trade of bonded logistics posted 21.77 billion yuan, up 18.6 percent year-on-year, accounting for 12.2 percent of the city's total.

Private enterprises continue to dominate the city's foreign trade. During this period, the imports and exports of private enterprises in Qingdao reached 113.92 billion yuan, an increase of 38.4 percent, accounting for 64 percent of the city's total.

Qingdao Port is among the busiest in the world. [Photo/VCG]

The imports and exports of foreign-invested enterprises in Qingdao reached 40.4 billion yuan, up 17.1 percent, while the figure for State-owned enterprises hit 23.01 billion yuan, up 27.2 percent.

In the first quarter, ASEAN, the United States and the European Union (excluding the United Kingdom) were the top three trade markets of Qingdao, with trade volume growing 40.8 percent, 66.8 percent and 29.9 percent respectively.

Qingdao's imports and exports to South Korea, Japan and Brazil increased by 32.5 percent, 11.3 percent and 17.5 percent respectively.

During the same period, Qingdao's trade with countries and regions involved in the Belt and Road Initiative reached 54.13 billion yuan, up 31.2 percent, accounting for 30.4 percent of the city's total.