Overview In July 2021 Shandong Province exported $23.2B and imported $15.1B, resulting in a positive trade balance of $8.12B. Between July 2020 and July 2021 the exports of Shandong Province have increased by $8.51B (57.8%) from $14.7B to $23.2B, while imports increased by $3.38B (28.8%) from $11.7B to $15.1B.
Trade In July 2021, the top exports of Shandong Province were Video and Card Games ($819M), Rubber Tires ($790M), Models and Stuffed Animals ($461M), Vehicle Parts ($444M), and Coated Flat-Rolled Iron ($418M). In July 2021 the top imports of Shandong Province were Crude Petroleum ($3.37B), Iron Ore ($2.15B), Integrated Circuits ($1.03B), Soybeans ($424M), and Refined Petroleum ($331M).
Destinations In July 2021, Shandong Province exported mostly to United States ($3.95B), South Korea ($2.3B), Japan ($1.62B), Vietnam ($800M), and United Kingdom ($681M), and imported mostly from Brazil ($2.08B), Australia ($1.38B), South Korea ($1.17B), Russia ($1.11B), and Malaysia ($1.07B).
Growth In July 2021, the increase in Shandong Province's year-by-year exports was explained primarily by an increase in exports to United States ($1.65B or 71.4%), South Korea ($725M or 46.1%), and Japan ($357M or 28.3%), and product exports increase in Video and Card Games ($505M or 161%), Models and Stuffed Animals ($324M or 237%), and Light Fixtures ($303M or 306%). In July 2021, the increase in Shandong Province's year-by-year imports was explained primarily by an increase in imports from Malaysia ($567M or 112%), Brazil ($426M or 25.8%), and Russia ($389M or 54.1%), and product imports increase in Iron Ore ($982M or 84.2%), Integrated Circuits ($325M or 45.8%), and Crude Petroleum ($319M or 10.5%).