Foreign trade grows 10% in first 8 months
2024-10-03 16:10:40
Journalist: Yang Jing
Translator and Editor: Tan Maolin
In the first eight months of this year, Yichang's foreign trade value reached 29.42 billion yuan (US$4.19 billion), a 10 percent increase from the previous year and 3.7 percentage points higher than the provincial average. Exports totaled 22.44 billion yuan, while imports were 6.98 billion yuan.
General trade accounted for 24.12 billion yuan, or 82 percent of the total foreign trade value, showing an annual growth of 11.4 percent. Private enterprises contributed over 70 percent of total trade, marking a 14.9 percent increase. State-owned enterprises generated 4.89 billion yuan, while foreign-invested enterprises accounted for 2.71 billion yuan.
The top three trading partners were ASEAN, with 6.51 billion yuan in imports and exports (up 39 percent); the EU, at 3.75 billion yuan (up 23.6 percent); and the United States, with 2.67 billion yuan (up 42 percent). Trade with countries involved in the Belt and Road Initiative increased by 11.5 percent, comprising 52.3 percent of total trade.
Key export categories included electromechanical products (4.11 billion yuan), labor-intensive products (2.76 billion yuan), and agricultural products (2.29 billion yuan).
On the import side, major categories were agricultural goods, electromechanical products, and metal ores. Agricultural imports surged to 1.52 billion yuan, an increase of 360 percent. Dried and fresh fruits and nuts accounted for 1.13 billion yuan, a staggering rise of 28.8 times. Electromechanical product imports reached 1.17 billion yuan, growing by 110.4 percent, while metal ore imports totaled 630 million yuan, emerging as a new driver for growth.
Translator and Editor: Tan Maolin
In the first eight months of this year, Yichang's foreign trade value reached 29.42 billion yuan (US$4.19 billion), a 10 percent increase from the previous year and 3.7 percentage points higher than the provincial average. Exports totaled 22.44 billion yuan, while imports were 6.98 billion yuan.
General trade accounted for 24.12 billion yuan, or 82 percent of the total foreign trade value, showing an annual growth of 11.4 percent. Private enterprises contributed over 70 percent of total trade, marking a 14.9 percent increase. State-owned enterprises generated 4.89 billion yuan, while foreign-invested enterprises accounted for 2.71 billion yuan.
The top three trading partners were ASEAN, with 6.51 billion yuan in imports and exports (up 39 percent); the EU, at 3.75 billion yuan (up 23.6 percent); and the United States, with 2.67 billion yuan (up 42 percent). Trade with countries involved in the Belt and Road Initiative increased by 11.5 percent, comprising 52.3 percent of total trade.
Key export categories included electromechanical products (4.11 billion yuan), labor-intensive products (2.76 billion yuan), and agricultural products (2.29 billion yuan).
On the import side, major categories were agricultural goods, electromechanical products, and metal ores. Agricultural imports surged to 1.52 billion yuan, an increase of 360 percent. Dried and fresh fruits and nuts accounted for 1.13 billion yuan, a staggering rise of 28.8 times. Electromechanical product imports reached 1.17 billion yuan, growing by 110.4 percent, while metal ore imports totaled 630 million yuan, emerging as a new driver for growth.
