Foreign trade grows 7.9% in first seven months
2024-08-27 14:08:55
In the first seven months of this year, Yichang’s foreign trade value reached 25.59 billion yuan (US$3.59 billion), a 7.9 percent year-on-year increase and 2 percentage points higher than the provincial average, as reported by Yichang Customs on August 25. Of this total, exports account for 19.58 billion yuan, and imports for 6.01 billion yuan.
Yichang Comprehensive Bonded Zone
During this period, private enterprises accounted for 19.1 billion yuan in imports and exports, representing a year-on-year growth of 13.9 percent and making up approximately 75 percent of the total foreign trade value.
Yichang’s top three trading partners were ASEAN (imports and exports of 5.53 billion yuan, growing 34.4 percent from a year ago), the EU (3.03 billion yuan, up 32.3 percent) and the United States (2.26 billion yuan, up 39.3 percent). Additionally, trade with countries involved in the Belt and Road Initiative reached 13.18 billion yuan, while trade with other RCEP members totaled 8.98 billion yuan, both showing year-on-year increases.
Among the top exported product categories, electromechanical products ranked first, with exports of 3.88 billion yuan, marking a year-on-year growth of 7.6 percent, followed by labor-intensive products (2.64 billion yuan, up 3.1 percent). In terms of imports, the demand for agricultural and electromechanical products surged significantly. During the same period, metal ore imports reached 650 million yuan, becoming a new driving force for import growth.
In total, Hubei Province's imports and exports amounted to 370.16 billion yuan in the first seven months of this year.
Yichang’s top three trading partners were ASEAN (imports and exports of 5.53 billion yuan, growing 34.4 percent from a year ago), the EU (3.03 billion yuan, up 32.3 percent) and the United States (2.26 billion yuan, up 39.3 percent). Additionally, trade with countries involved in the Belt and Road Initiative reached 13.18 billion yuan, while trade with other RCEP members totaled 8.98 billion yuan, both showing year-on-year increases.
Among the top exported product categories, electromechanical products ranked first, with exports of 3.88 billion yuan, marking a year-on-year growth of 7.6 percent, followed by labor-intensive products (2.64 billion yuan, up 3.1 percent). In terms of imports, the demand for agricultural and electromechanical products surged significantly. During the same period, metal ore imports reached 650 million yuan, becoming a new driving force for import growth.
In total, Hubei Province's imports and exports amounted to 370.16 billion yuan in the first seven months of this year.
