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Hubei’s imports and exports hit record high in 2017

Source: hubei.gov.cn 01/19/2018 04:01:45

Hubei’s imports and exports reached 313.43 billion yuan in 2017, a year-on-year growth of 20.6 percent, climbing above the 300-billion-yuan barrier for the first time. The exports, up 20.2 percent, amounted to 206.41 billion yuan while the imports totaled 107.02 bilion yuan, increasing by 21.4 percent, according to the statistics released by Wuhan Customs on January 16, 2018.

In 2017, the growth rates for the overall foreign trade, exports and imports were 6.4 percent, 9.4 percent and 2.7 percent higher than the national average, respectively.

The top six trade partners of Hubei, namely, the European Union, the United States, Hong Kong, ASEAN, Japan and South Korea, contributed to 61.2 percent of the province’s total foreign trade volume in 2017 while the countries along the Belt and Road accounted for 26.3 percent.

Hubei’s foreign trade saw a significant improvement in quality and efficiency last year while showed a clear upward trend. The imports and exports in general trade become the main engine for the province’s full-year growth in foreign trade, the total volume of which reached 231.79 billion yuan, rising by 24 percent year on year. It made up 74 percent of the province’s overall foreign trade volume, registering a 2.1 percent growth compared with last year.

The high-tech production turned into a new driving force for the province’s foreign trade growth, contributing to 46.7 percent. The exports of cellphones, computers and its parts, Liquid crystal display panels, family appliances, auto parts and cars surged by 20.4 percent, 44.7 percent, 42.5 percent, 94 percent, 53.2 percent and 120 percent, respectively.

In terms of the cities in the province, Wuhan’s imports and exports expanded 23.2 percent last year to 193.62 billion yuan, accounting to 61.8 of the province’s total volume. Except for Suizhou, Xiaogan and Shennongjia, other cities all made headway to some extend.

(hubei.gov.cn by Ruan Xinqi)