According to the data released by the Changsha Customs on June 13, between this January and May, Hunan’s total imports and exports expanded 14.2 percent year-on-year to 239.25 billion yuan. The exports hit 169.86 billlion yuan, up 21.1 percent over last year.

In May alone, Hunan’s imports and exports rose sharply on both yearly and monthly basis. The value of exports hit 73.46 billion yuan, increasing by 54.6 percent year-on-year and 43.6 percent month-on-month.

From January to May, ASEAN countries, RCEP members, and the countries along the Belt and Road had offered impetus to Hunan’s foreign trade growth. Hunan’s imports and exports with ASEAN countries grew by 49.6 percent to 48.11 billion yuan, taking up 20.1 percent of the total. The figure with other RCEP member countries rose by 24.8 percent to 79.46 billion yuan. The imports and exports with the Belt and Road countries increased by 39.8 percent to 81.12 billion yuan, contributing 77.8 percent to the total of the province.
 
Waterway transport played a major role in foreign trade, contributing more than 70 percent. Between January and May, Hunan’s imports and exports via waterway transport hit 172.94 billion yuan, up 20.6 percent and accounting for 72.3 percent of the total import and export value. Rubber, toys, iron ores, and beans were the main projects transported by waterways. Growth was seen in the trade via air and rail transport, with the growth rate of 19 and 31.1 percent respectively.

In terms of products, Hunan-made shoes export surged, and a growing number of toys were sold to Japan and Malaysia. Iron ores imports shrank, while bean imports expanded rapidly.

Regionally, 11 of the 14 cities and prefecture of the province posted positive growth in imports and exports in the first five months this year. Xiangxi Tujia and Miao Autonomous Prefecture topped in all regions provincewide, with the fastest increase of 81.4 percent. Chenzhou and Changde grew fast relatively.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn