A container ship docks at Ningbo-Zhoushan Port. [Photo provided by Hangzhou Customs]

Zhejiang's foreign trade continued to gain momentum in the first five months of 2025, according to data released by the Hangzhou Customs.

From January to May, Zhejiang recorded 2.24 trillion yuan ($312.15 billion) in total imports and exports, a year-on-year increase of 6.5 percent. Exports reached 1.69 trillion yuan, up 9.6 percent, while imports totaled 547.45 billion yuan, down 2.2 percent.

The province accounted for 12.5 percent of the country's total foreign trade, 15.9 percent of exports, and 7.5 percent of imports, all up from the same period last year. Zhejiang contributed 20.7 percent to China's total export growth during the period, ranking first nationwide.

Trade with the European Union and the Association of Southeast Asian Nations reached 342.26 billion yuan and 337.18 billion yuan, growing by 11.1 percent and 13.1 percent, respectively. Exports to emerging markets also rose, with shipments to the Middle East, Latin America, and Africa increasing by 6.0 percent, 4.8 percent, and 9.3 percent, respectively.

Mechanical and electrical products remained the backbone of Zhejiang's exports, totaling 800.58 billion yuan, a 12.6 percent rise and 47.3 percent of the province's total exports. Notably, electric vehicle exports surged by 86 percent to 16.32 billion yuan, while ship exports climbed 18.2 percent to 10.48 billion yuan.

On the import side, high-tech goods showed signs of recovery. Imports of mechanical and electrical products rose 20 percent to 85.75 billion yuan, with electronic component imports up 38.4 percent to 21.63 billion yuan.

The number of foreign trade firms with actual import-export performance reached 106,000, a record high for the period. Private enterprises drove growth, with trade volume rising 8 percent to 1.83 trillion yuan, accounting for 81.7 percent of the province's total.

Foreign-invested enterprises recorded 277.85 billion yuan in trade, up 4.7 percent and 2.4 percentage points higher than the national average. Meanwhile, comprehensive bonded zones in the province reported 107.72 billion yuan in trade, an increase of 10.6 percent, accounting for 4.8 percent of the provincial total, up 0.2 percentage points.