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15 July 2015

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2017 Hunan Foreign Trade Volume Leads Central China Provinces

2018-01-17 Download Print Comment

Changsha Customs announced the 2017 Hunan foreign trade volume on January 16, 2018. Total import and export value was 243 billion CNY, an increase of 39.8% over last 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 last July. A peak was last 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.

In 2017, the private enterprise import and export value was 154 billion CNY, up 47.3% on the year. It is a major force of Hunan provincial foreign trading and, as a percentage, it continues to increase. Significant growth was seen in foreign-invested enterprises and traditional labor-intensive products. Last year, the import of electromechanical products was 39 billion CNY, a growth rate of 51.1%. High-tech imports increased 69.8% to 16 billion CNY. Imported bulk commodities such as coal and soybean also increased.

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Translator: Yu Jiangjiang

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