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Hubei’s foreign trade up 2 pct in Q1 of 2018

Source: hubei.gov.cn 04/23/2018 03:04:07

In the first quarter of 2018, Hubei gained 67.72 billion yuan in foreign trade, a year-on-year increase of 2 percent, among which, the exports occupied 43.48 billion yuan with a growth of 8.8 percent and the imports brought in 24.24 billion yuan with a drop of 8.3 percent, according to statistics released by Wuhan Customs on April 18, 2018.

During January to March, the European Union, the United States and ASEAN ranked as Hubei’s top three trade partners, with trade value of 10.72 billion yuan, 7.9 billion yaun and 7.88 billion yuan, up 18 percent, 3.5 percent and 7.2 percent, respectively. The exports to the countries along the “Belt and Road” were 18.37 billion yuan, rising by 14.8 percent, and 12.8 percent higher than the province’s average growth.

In terms of export products, the mechanical and electrical products worth 25.09 billion yuan were exported, accounting for 57.7 percent of Hubei’s total exports value in the first quarter. The exports of traditional labor-intensive products amounted to 6.06 billion yuan, surging by 36.2 percent, including textiles & garments of 4.39 billion yuan and shoes of 680 million yuan, up 32.8 percent and 9.3 percent, respectively.

In addition, the exports of pharmaceutical products and auto parts, during the three months, were 1.26 billion yuan and 1.9 billion yuan, notably upswinging by 37.8 percent and 97.3 percent, respectively.

In the first quarter, 12 cities in Hubei showed growth in imports and exports. Xiangyang and Shiyan topped others with import and export values respectively securing growth rates of 87.5 percent and 150 percent. Huangshi, Jiangzhou, Jingmen, Xiaogan, Xiantao and Qianjiang also saw a clear growth of over 20 percent. (en.hubei.gov.cn)

Related: Hubei's foreign trade up 17.2% in January 2018