Overview: In December 2020 Shandong Province exported $22.9B and imported $12.6B, resulting in a positive trade balance of $10.3B. Between December 2019 and December 2020 the exports of Shandong Province have increased by $8.32B (57%) from $14.6B to $22.9B, while imports increased by $366M (2.98%) from $12.2B to $12.6B.
Trade: In December 2020, the top exports of Shandong Province were Video and Card Games ($804M), Rubber Tires ($737M), Light Fixtures ($526M), Other Plastic Products ($452M), and Vehicle Parts ($393M). In December 2020 the top imports of Shandong Province were Crude Petroleum ($2.31B), Integrated Circuits ($1.25B), Iron Ore ($1.14B), Asphalt Mixtures ($485M), and Soybeans ($331M).
Destinations: In December 2020, Shandong Province exported mostly to United States ($4.05B), South Korea ($2.13B), Japan ($1.59B), Hong Kong ($1.1B), and Vietnam ($1.01B), and imported mostly from Brazil ($1.28B), Malaysia ($1.13B), South Korea ($1B), Taiwan ($996M), and Russia ($856M).
Growth: In December 2020, the increase in Shandong Province's year-by-year exports was explained primarily by an increase in exports to United States ($2.14B or 113%), South Korea ($535M or 33.6%), and Vietnam ($466M or 85.9%), and product exports increase in Video and Card Games ($625M or 350%), Light Fixtures ($380M or 260%), and Integrated Circuits ($351M or 846%). In December 2020, the increase in Shandong Province's year-by-year imports was explained primarily by an increase in imports from Taiwan ($647M or 186%), Malaysia ($590M or 109%), and United States ($402M or 94.2%), and product imports increase in Integrated Circuits ($763M or 157%), Asphalt Mixtures ($485M or 3.67M%), and Iron Ore ($312M or 37.9%).