Hunan's foreign trade shows a trend of good prospects. According to the statistics of Changsha Customs, from January to November 2020, the total import and export value of Hunan Province was 431.33 billion yuan, a year-on-year increase of 9.8%. Among them, in November, the total import and export value of the province was 51.68 billion yuan, a sharp increase of 38.5%.

ASEAN continues to be Hunan’s largest trading partner and Hunan’s trade with “Belt and Road” countries maintains a high growth. In November, Hunan’s import and export volume with ASEAN countries was 8.18 billion yuan, a sharp increase of 64.7%, accounting for 15.8% of the provincial total. Foreign trade with major ASEAN trading partners such as Vietnam and Thailand all doubled. In November, the total value of imports and exports to “Belt and Road” countries was 14.53 billion yuan, an increase of 38.5%, accounting for 28.1% of the provincial total. It contributed to a 10.8 percentage points increase in Hunan’s imports and exports in the month.

The Foreign Trade Office of the Hunan Provincial Department of Commerce said that since the beginning of this year, Hunan's imports have increased significantly, which has contributed to the stability of foreign trade. According to statistics, from January to November, Hunan’s exports were 290.24 billion yuan, an increase of 4.6%, and imports were 141.09 billion yuan, an increase of 22.3%.

The Changsha Customs analyzed that cross-border e-commerce trade continued to contribute to the steady growth of foreign trade, and the platform of customs’ special supervision area in Hunan also played a vital role in this regard. In November, Hunan’s import and export value of cross-border e-commerce was 2.58 billion yuan, an increase of 128.3%. Labor-intensive products were the primary export commodities. In November, the total import and export value of the customs’ special supervision area of Hunan Province was 12.23 billion yuan, a sharp increase of 160.7%, accounting for 23.7% of the provincial total.

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

Translator: Xiao Juan

Chinese source: hunan.gov.cn