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15 July 2015

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Import & Export

In 2016, Hunan's total import & export value was worth 178.22 billion yuan, representing a year-on-year decrease of 2.1 percent. Of the total, the export value was 120.53 billion yuan, up by 1.5 percent, and the import value 57.7 billion, down by 8.9 percent. In terms of types of trade, the export value of general trade reached 88.3 billion yuan, up by 21.3 percent, and that of processing trade totaled 30.26 billion, down by 22.7 percent. Considering commodity categories, the export value of apparel and clothing accessories was 7.66 billion yuan, up by 51.6 percent; that of steel and metallic silver declined 18.0 percent and 5.9 percent to 4.95 and 3.97 billion yuan respectively; that of household ceramics increased 5.6 percent to 2.38 billion yuan. The exports by major countries (regions) to Hong Kong decreased 7.5 percent to 30.73 billion yuan; that to the USA, the EU, and Japan increased 26.5 percent, 40.0 percent and11.5 percent year on year to 17.43, 15.51, and 2.8 billion yuan respectively.

 

Item

Absolute Amount of Volumes (100 million yuan)

Increase (%) over 2015

Total import & export value

1782.2

-2.1

Export

1205.3

1.5

Classified by trade types

 

 

Of which: general trade

883.0

21.3

Processing trade

302.6

-22.7

Classified by main commodities

 

 

Of which: mechanical & electrical products

565.3

-8.9

High-tech products

175.6

-22.0

Agricultural products

69.0

5.7

Import

577.0

-8.9

Classified by trade types

 

 

Of which: general trade

381.3

15.2

Processing trade

175.9

-22.7

Classified by main commodities

 

 

Of which: mechanical & electrical products

268.6

-15.2

High-tech products

101.2

-37.2

Agricultural products

32.5

52.2

Total Import & Export Value and Growth Rates in 2016

 

The actual utilized foreign direct investment (FDI) in Hunan was 12.85 billion USD, a year-on-year increase of 11.1 percent. FDI in the primary and secondary industry was 0.62 and 6.86 billion USD, down by 0.4 and 4.0 percent respectively; while that in tertiary industry increased 41.5 percent to 5.37 billion yuan. Hunan introduced 10 foreign-funded projects with paid-in investment of over 30 million USD for each. It also attracted two enterprises in the Fortune 500 within the year. By the end of 2016, 140 enterprises of the Fortune 500 had invested in Hunan. Moreover, it attracted 436.18 billion yuan of actual investment from other provinces in China, up by 15.0 percent. Of the total, the investments in the primary, secondary, and tertiary industry were 29.04, 220.4, and 186.73 billion yuan, up by 50.4, 5.9, and 23.1 percent respectively. A total of 424 projects worth over two hundred million yuan were introduced from other provinces, an increase of 22.9 percent; the paid-in investment reached 156.33 billion yuan, up by 21.3 percent.

 

The value of new contracts on foreign projects, labor service cooperation, and design consultation signed by the province totaled 6.6 billion USD, a year-on-year increase of 11.6 percent. The turnover of these projects totaled 6.31 billion USD, up by 22 percent; and there were 96,000 expatriate labors, up by 17.8 percent. In 2016, the volume of foreign investment contracts was 4.7 billion USD, up by 51.7 percent. Of the total, the agreed investment amount increased 20.6 percent to 3.35 billion USD; the actual foreign investment increased 11.5 percent to 1.65 billion USD.

 

Source: Statistical Communiqué on Hunan's Economic and Social Development in 2016 >>

 

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