Hunan’s foreign trade is valued over 478 billion Yuan in first 10 months

The Changsha Customs released latest imports and exports data on November 9. Between January and October this year, Hunan’s import and export value amounted to 478.57 billion yuan, making a steady growth of 27.7% over last year.

The Regional Comprehensive Economic Partnership (RCEP) will officially take effect on January 1, 2022. Hunan has maintained a good momentum of economic and trade contact with the RCEP partners. In the first ten months, the imports and exports between Hunan and the RCEP partners increased by 26.6% year on year. ASEAN remained Hunan's largest trading partner during the period, with the combined trade volume rising 17.5% to 75.11 billion yuan which accounted for 15.7% of the province’s foreign trade volume.

Mechanical and electrical products remained major exported products of Hunan, which had contributed 44.5% to the province’s foreign trade. The export of electronic components and electrical appliances surged. As for imported products, notable increases had been seen in iron ore and soybean imports.

Translator: Pang Yuehui