Foreign trade value rises nearly 43% in first quarter
2024-05-27 19:05:22
By Ma Yuhan, Yichang International Communication Studio
Yichang's total foreign trade value reached 16.44 billion yuan (US$227 million) in the first quarter of 2024, an increase of 42.9 percent compared to last year’s numbers.
Private companies have become the main contributors to growth. Yichang's private enterprises completed 13.19 billion yuan worth of foreign trade in this period, a year-on-year increase of 67.7 percent and accounting for 80.2 percent of total foreign trade value.
Yichang posted growth with its top three trading partners, ASEAN (up 123.3 percent from a year ago), the European Union (90.9 percent) and the United States (108 percent).
Trade with countries participating in the Belt and Road Initiative climbed 51.5 percent, while trade with member economies of the Regional Comprehensive Economic Partnership (RCEP) rose 57.1 percent.
Mechanical and electrical products were the largest export category in terms of value and accounted for 27.4 percent of total exports.
Consumer goods, mechanical and electrical products, and ore are the top imports.
Yichang's total foreign trade value reached 16.44 billion yuan (US$227 million) in the first quarter of 2024, an increase of 42.9 percent compared to last year’s numbers.
Private companies have become the main contributors to growth. Yichang's private enterprises completed 13.19 billion yuan worth of foreign trade in this period, a year-on-year increase of 67.7 percent and accounting for 80.2 percent of total foreign trade value.
Yichang posted growth with its top three trading partners, ASEAN (up 123.3 percent from a year ago), the European Union (90.9 percent) and the United States (108 percent).
Trade with countries participating in the Belt and Road Initiative climbed 51.5 percent, while trade with member economies of the Regional Comprehensive Economic Partnership (RCEP) rose 57.1 percent.
Mechanical and electrical products were the largest export category in terms of value and accounted for 27.4 percent of total exports.
Consumer goods, mechanical and electrical products, and ore are the top imports.
