Foreign trade value rises 10.3% in first two months
2024-03-30 20:03:06
By Ma Yuhan, Yichang International Communication Studio
Yichang's total foreign trade value reached 6.48 billion yuan (US$897 million) in the first two months of 2024, an increase of 10.3 percent year-on-year. Of that total, 5.09 billion yuan was in export value.
In terms of the nature of trading entities, private companies have become the main contributor of foreign trade growth. Yichang's private enterprises completed 4.91 billion yuan worth of foreign trade in this period, a year-on-year increase of 14.3 percent and accounting for 75.8 percent of the total foreign trade value.
Yichang’s trade with ASEAN, EU and US, the city’s top three trading partners, maintained growth, up 48.9 percent, 58.6 percent and 46.8 percent respectively.
Yichang’s trade with emerging markets also saw an increase. Trade with countries participating in the Belt and Road Initiative climbed 0.4 percent, while trade with member economies of the Regional Comprehensive Economic Partnership (RCEP) rose 18.9 percent.
Among the exported products, Yichang sold 1.25 billion yuan worth of mechanical and electrical products to foreign markets, accounting for 24.6 percent of the total export value. It is also the largest export category in terms of value.
Among imports, mechanical and electrical products and consumer goods had a combined import value of 640 million yuan, reaching 45.6 percent of the total.
Yichang's total foreign trade value reached 6.48 billion yuan (US$897 million) in the first two months of 2024, an increase of 10.3 percent year-on-year. Of that total, 5.09 billion yuan was in export value.
In terms of the nature of trading entities, private companies have become the main contributor of foreign trade growth. Yichang's private enterprises completed 4.91 billion yuan worth of foreign trade in this period, a year-on-year increase of 14.3 percent and accounting for 75.8 percent of the total foreign trade value.
Yichang’s trade with ASEAN, EU and US, the city’s top three trading partners, maintained growth, up 48.9 percent, 58.6 percent and 46.8 percent respectively.
Yichang’s trade with emerging markets also saw an increase. Trade with countries participating in the Belt and Road Initiative climbed 0.4 percent, while trade with member economies of the Regional Comprehensive Economic Partnership (RCEP) rose 18.9 percent.
Among the exported products, Yichang sold 1.25 billion yuan worth of mechanical and electrical products to foreign markets, accounting for 24.6 percent of the total export value. It is also the largest export category in terms of value.
Among imports, mechanical and electrical products and consumer goods had a combined import value of 640 million yuan, reaching 45.6 percent of the total.
