Hunan Foreign Trade Rises in First Three Quarters

2017-10-20
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During the first three quarters this year, 3,751 Hunan enterprises have import and export performance, 543 more than last year. The total import and export value increased by 56.5% year on year. The mechanical and electrical, and high-tech product exports were in full swing.

Hunan has maintained rapid growth in foreign trade this year. According to the Customs, the province made a total import and export value of 165.6 billion yuan during the first three quarters, increasing by 56.5% over the same period last year. The exports were 105.69 billion yuan, up 52.7%; and, the imports 59.91 billion yuan, up 63.7%.
It was said Hong Kong remained Hunan¡¯s largest trade partner. The trade with U.S., Japan, the ASEAN countries, and the EU also grew.

In 2017, Hunan¡¯s main international partners have better economic conditions. The bilateral trade with the EU, U.S., and Japan has grown by more than 50%. As for those emerging markets, Hunan expanded trade with South Africa and Russia, which increased by more than 100%.

Hunan has advanced investment and trade cooperation with the ¡°Belt and Road¡± countries. During the first three quarters, the imports and exports with those countries reached 37.09 billion yuan, increasing by 45.8%. The exports to Russia, Ukraine, Hungary, and other six ¡°Belt and Road¡± countries grew by more than 100% over last year.

The cargoes imported and exported through the Hunan-Europe Express Line doubled to 107,000 tons, with the import and export value of 3.58 billion yuan, increasing by 130%.

Hunan¡¯s import and export growth target this year is 30%. The Customs said, under such stable development circumstances, Hunan is anticipated to fulfill the target as planned.

Translator: Pang Yuehui
Chinese source: hunan.gov.cn