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According to data released by the Department of Commerce of Shandong Province, in the first quarter, the value of petroleum equipment products exported by Shandong Province was US$220 million, an increase of 78.8% year-on-year. Among them, the export value of oil drilling rigs was 84.66 million US dollars, an increase of 1.1 times year-on-year; the value of export of petroleum steel pipes was 13,920 million US dollars, an increase of 63.4% year-on-year.
From the perspective of export regions, the Middle East has become the largest export market. In the first quarter, the value of Shandong's oil equipment exports to the Middle East increased by 1.6 times year-on-year, with a value of US$70 million. Exports to Venezuela, the United States, and Canada were valued at US$42.8 million, US$22.5 million, and US$15.5 million, respectively.
From the export perspective, exports are dominated by general trade. In the first quarter, general trade methods exported 200 million U.S. dollars, an increase of 81.9% year-on-year, accounting for 90.8% of all exports.
In addition, private enterprises have a clear role in pulling exports. In the first quarter, private enterprises exported 140 million U.S. dollars, an increase of 1.5 times year-on-year.
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