Yichang's foreign trade hits new high in 2023
2024-01-30 20:01:06
By Tan Maolin, Yichang International Communication Studio
Yichang's annual foreign trade posted a better-than-anticipated performance in 2023 reaching 44.57 billion yuan (US$6.21 billion), up 12.1 percent year-on-year, according to Yichang Customs.
The city’s exports grew 9.1 percent year-on-year to 38.07 billion yuan, while imports grew 33.8 percent year-on-year to 6.5 billion yuan.
The city has fostered a diverse range of export drivers. For example, the annual electro-mechanical product shipments increased by 65.5 percent over the previous year to 7.01 billion yuan and accounted for 18.4 percent of the total exports. Among them, auto parts and completed ships jumped 1.68 times and 1.71 times, respectively, from last year.
Yichang’s trade partners have also become more diversified. Yichang's trade during 2023 with economies involved in the Belt and Road Initiative climbed 32.9 percent year-on-year to 23.48 billion yuan, accounting for 52.7 percent of Yichang's total foreign trade. The trading volume with the city’s top three trading partners - ASEAN, India, and the EU – all displayed year-on-year growth.
Yichang's annual foreign trade posted a better-than-anticipated performance in 2023 reaching 44.57 billion yuan (US$6.21 billion), up 12.1 percent year-on-year, according to Yichang Customs.
The city’s exports grew 9.1 percent year-on-year to 38.07 billion yuan, while imports grew 33.8 percent year-on-year to 6.5 billion yuan.
The city has fostered a diverse range of export drivers. For example, the annual electro-mechanical product shipments increased by 65.5 percent over the previous year to 7.01 billion yuan and accounted for 18.4 percent of the total exports. Among them, auto parts and completed ships jumped 1.68 times and 1.71 times, respectively, from last year.
Yichang’s trade partners have also become more diversified. Yichang's trade during 2023 with economies involved in the Belt and Road Initiative climbed 32.9 percent year-on-year to 23.48 billion yuan, accounting for 52.7 percent of Yichang's total foreign trade. The trading volume with the city’s top three trading partners - ASEAN, India, and the EU – all displayed year-on-year growth.
