Hunan Province recorded a total import and export volume of 461.42 billion CNY in the first ten months of this year. Among them, imports expanded 9.4% to 190.2 billion CNY. The provincial imports and exports reached 47.47 billion CNY in October alone, an increase of 10.2%. Of which, the exports rose 20.7% to 28.92 billion CNY. The growth rates of foreign trade and exports in October hit new highs within the year, data from the Changsha Customs Authority showed on November 11, 2024.

There were 7,546 enterprises across Hunan with actual foreign trade performance during the January-October period, 272 more than the first three quarters. Production-oriented enterprises accounted for 38.8% of the total, with an import and export volume of 191.24 billion CNY, up 14.4%. Private enterprises accounted for 77.3% of the total foreign trade value.

Engineering machinery, "new three" products (electric vehicles, lithium-ion batteries, and photovoltaic products), and agricultural products continued to grow rapidly. In the first ten months, Hunan exported 149.68 billion CNY of mechanical and electrical products, accounting for 55.2% of the total export value. The exports of engineering machinery was 26.23 billion yuan, an increase of 20.2%, while those of the "new three" products reached 8.64 billion CNY, growing by 36%. The exported vegetables and edible fungi, dried and fresh fruits, nuts, and other agricultural products surged 11.8% to 19.3 billion CNY. Mechanical and electrical, high-tech, and labor-intensive products outperformed others in October.

In the first ten months, Hunan's trade with African countries amounted to 41.77 billion CNY, remaining the largest in central and western parts of China. Meanwhile, the import and export volume to Hong Kong, China; Russia; and, Taiwan, China increased by 3.5%, 14.4% and 35.9% respectively.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn