China's foreign trade fared better than expected in January, marking a good start in 2017.Hunan’s imports and exports trade volume increased 31.6% year on year to 13.96 billion yuan. Of the total, 9.32 billion yuan earned from exports and 4.64 billion yuan from imports, up by 27.9% and 39.7% respectively, according to the data released by Changsha Customs on Feb. 24, 2017.
About 9.61 billion yuan were gained through general trade, accounting for 68.8% of the total trade volume. The imports and exports in Special Customs Surveillance Zone increased 65.9%.
Private enterprises were still the “main force” in boosting foreign trade. They handled imports and exports worth 8.08 billion yuan in January, accounting for 57.8% of the provincial total. Foreign-invested enterprises played an active role in foreign trade, with a trade volume reaching 3.66 billion yuan and up by 49.8%.
Hunan’s foreign trade structure maintained stable growth, with mechanical and electrical products and high-tech products continuously taking the lead in export. The exports of such products reached 5.76 billion yuan, accounting for over 60% of the provincial total. The exports of labor intensive products such as clothes, accessories, and shoes maintained a relatively fast growth. The imports of auto parts increased 3.4 times in January for a strong development of automobile industry.