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15 July 2015

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Import & Export

Hunan’s total import and export value was worth 243.43 billion yuan, representing a year-on-year increase of 39.8%. Of the total, the export value was 156.55 billion yuan, up by 33.3%, and the import value 86.88 billion yuan, up by 53.3%. In terms of types of trade, the export value of general trade reached 112.55 billion yuan, up by 28.5%, and that of processing trade totaled 43.17 billion yuan, up by 47.7%. Considering top 5 exported commodity categories, the export value of apparel and clothing accessories was 9.89 billion yuan, up by 29%; shoes increased by 29.5% to 6.93 billion yuan; speakers grew by 103% to 6.13 billion yuan; steel went up by 8.6% to 5.38 billion yuan; and, bags and containers increased by 14.8% to 4.65 billion yuan. The exports by major countries (regions) to Hong Kong increased by 28.6% to 36.76 billion yuan; that to USA, EU, Japan, and the ASEAN countries increased by 30.5%, 31.5%, and 47.6% to 22.74, 20.39, and 21.9 billion yuan respectively.
 

Total Import & Export Value and Growth Rates in 2017

 

Item

Absolute Amount of Volumes (100 million yuan)

Increase (%) over 2016

Total import & export value

2434.3

39.8

Export

1565.5

33.3

Classified by trade types

 

 

Of which: general trade

1125.5

28.5

Processing trade

431.7

47.7

Classified by main commodities

 

 

Of which: mechanical & electrical products

735.5

37.9

High-tech products

226.8

44.7

Agricultural products

79.2

14.3

Import

868.8

53.3

Classified by trade types

 

 

Of which: general trade

571.6

48.7

Processing trade

269.1

60.4

Classified by main commodities

 

 

Of which: mechanical & electrical products

390.3

51.1

High-tech products

160.5

69.8

Agricultural products

63.2

94.8

 

The actual utilized foreign direct investment (FDI) in Hunan was 14.47 billion USD, a year-on-year increase of 12.6%. FDI in the primary industry was 0.53 billion USD, down by 15.5%; while that in secondary industry and tertiary industry was 7.46 billion USD and 6.48 billion USD, an increase of 8.8% and 20.8% respectively. Hunan introduced 8 foreign-funded projects with paid-in investment of over 30 million USD for each. It also attracted 25 new investment projects of the Fortune 500 within the year. By the end of 2017, 193 enterprises of the Fortune 500 had invested in Hunan. Moreover, it attracted 509.79 billion yuan of actual investment from other provinces in China, up by 16.9%. Of the total, the investments in the primary, secondary, and tertiary industry were 40.37, 258.27, and 211.15 billion yuan, up by 39%, 17.2% and 13% respectively. A total of 512 projects worth over two hundred million yuan were introduced from other provinces, an increase of 20.8%; the paid-in investment reached 179.82 billion yuan, up by 15%.

 

The value of new contracts on foreign projects, labor service cooperation, and design consultation signed by the province totaled 7.6 billion USD, a year-on-year increase of 15.2%. The turnover of these projects totaled 7.05 billion USD, up by 11.7%; and there were 109,000 expatriate labors, up by 12.6%. In 2017, the volume of foreign investment contracts was 2.35 billion USD, down by 49.9%. Of the total, the agreed investment amount decreased 40.1% to 2.01 billion USD; the actual foreign investment decreased 18.1% to 1.35 billion USD.

 

Source: Statistical Communiqué on Hunan's Economic and Social Development in 2017 

 

In 2017, Hunan's total import and export value was 243 billion CNY, an increase of 39.8% over the previous year. Hunan ranks fourth nationwide, and is top among the six provinces of central China. Exports surpassed 156 billion CNY, a year-on-year growth of 33.3%. Imports of 86 billion CNY was up 53.3% over last year.

 

Hunan had a monthly foreign trade volume of more than 20 billion CNY on average since July 2017. A peak was in December with a total value of 28.79 billion CNY. General trade is the main type of foreign trading and accounts for nearly 70%. The processing trade enjoyed a strong growth momentum. Hong Kong remains Hunan's largest trading partner. There was substantial trade with the United States, the European Union, and the Association of Southeast Asian Nations.

 

Chinese source: hn.people.com.cn

 

Updated on May 21, 2018