Hunan foreign trade maintained rapid growth during January and May this year. According to the Changsha Customs statistics, the total import and export value surpassed 105 billion CNY, an increase of 34.3% over the same period of last year. The exports were 65.42 billion CNY, up 33.2%; and, the imports 39.79 billion CNY, grew by 36.1%.
General trade grew rapidly with expanded share. In the first five months, the provincial general foreign trade volume was 77.78 billion CNY, an increase of 41.8%. This accounted for 73.9% of the total, an increase of 3.4 percentage points over the same period of last year.
Private enterprise foreign trade growth rate exceeded 50%, accounting for 65.1% of the total. It was 7.1 percentage points higher than the same period of last year.
Hong Kong remains Hunan’s largest trading partner with a total trade volume of 12.43 billion CNY in the first five months. The United States made 11.91 billion CNY trade with Hunan, up 39.3%. Hunan’s trade with the Republic of Korea, ten countries of the Association of Southeast Asian Nations, and the European Union also saw significant growth. The growth rate was 57.3%, 61.2%, and 56.6% respectively.
Electromechanical and traditional labor-intensive products were still main export commodities. From January to May, the province exported 28.76 billion CNY of electromechanical products, an increase of 27.9% and accounting for 44% of the total export value. The export of high-tech products was 8.15 billion CNY, an increase of 9.1%. The exports of garments and accessories, footwear, bags, and ceramics products maintained rapid growth.
The imported high-tech products grew by 100%. In the first five months, the province imported 17.25 billion CNY of electromechanical products, an increase of 41% and accounted for 43.4% of the import total. The imported high-tech products was worth 9.47 billion CNY, an increase of 120% and accounted for 23.8% of the total.