Hunan's import and export trade with Vietnam hit 9.41 billion CNY in the first seven months of this year, according to the Changsha Customs Authority. The import value reached 2.17 billion CNY, a year-on-year increase of 26.4%.

The export of automobiles, construction machinery, and agricultural products has surged. In the first seven months, Hunan exported 4.34 billion CNY of mechanical and electrical products to Vietnam. The export of automobiles, electrical appliances, construction machinery, and agricultural products such as vegetables, citrus, and tobacco, respectively grew by 81.5%, 68.8%, 30.6%, and 55.6% over the same period of last year.

Rubber and agri-food products are the major imports. Between January and July, Hunan imported 1.4 billion CNY of natural and synthetic rubber from Vietnam, growing 53.7%; and, imported durians, bananas, and other dried and fresh fruits, melons, and nuts valued at 280 million yuan, increasing by 31.6%. The import value of mechanical and electrical products, including capacitors, integrated circuits, and telephones, rose 46.8% to 250 million CNY.

In the first seven months, the number of Hunan's foreign trade enterprises with actual performance with Vietnam totaled 1,124. Among them, the private businesses have played a major role, with the import and export value with Vietnam hitting 6.51 billion CNY, accounting for 69.1% of the province's total trade value with Vietnam. The state-owned enterprises have seen notable growth in the imports and exports with Vietnam, reaching 2.05 billion CNY and increasing by 2.1 times.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn