Hunan’s Foreign Trade up 50% in First Three Quarters
According to the statistics from the Changsha Customs, the total import and export value of Hunan Province in the first three quarters was 313.41 billion CNY, an increase of 50.4% over the same period of the previous year. Among them, exports were 221.04 billion CNY, up 68.9%, and imports 92.37 billion CNY, up 19.2%. Hunan foreign trade has maintained a relatively rapid growth with traditional trading partners such as Hong Kong, the European Union and ASEAN countries. Hunan has booming imports from and exports to the emerging markets.
In the first half of this year, the province's foreign trade rose steadily. Since June, it has entered a rapidly increasing stage. In September, the import and export volume reached the peak of 44.89 billion CNY, an increase of 67.7%.
Hong Kong is Hunan’s largest trading partner. The rapid growth was also seen in the EU and ASEAN countries. In the first three quarters, the province's imports and exports to Hong Kong were 46.92 billion CNY, up 78.1%; those to the US were 28.26 billion CNY, up 18.1%; and, those to South Korea 16.93 billion CNY, up 39%. In the same period, the trade volume with the EU was 45.68 billion CNY, an increase of 70.5%; and that with the ASEAN countries 42.82 billion CNY, grew by 74.1%.
Hunan has played an active role in trading with the emerging markets. In the first three quarters, the province's imports and exports with countries along the “Belt and Road” route reached 87.63 billion CNY, an increase of 63.8% and accounting for 28% of the total foreign trade value of Hunan Province. This was 13.4 percentage points higher than the overall increase of Hunan's foreign trade during this period. Thanks to the steady advancement of the “Belt and Road” construction, this year, Changsha Customs has witnessed significantly increase in the number of certificate of origin approval for those “Belt and Road” countries.
The first China-Africa Economic and Trade Expo was successfully held in Hunan at the end of this June. Hunan's trade with African countries has entered the best stage ever. In the first three quarters, Hunan’s imports from and exports to African countries valued at 18.57 billion CNY, an increase of 48.2%.