Hunan's foreign trade reaches nearly 115 billion Yuan in first quarter

Hunan's total imports and exports expanded 0.9% year on year to nearly 115 billion yuan in the first quarter of 2022, data from the Changsha Customs showed on April 18. Exports surged 2.7% year on year to 75.75 billion yuan.

ASEAN remained Hunan's largest trading partner, and the bilateral trade with ASEAN maintained fast growth. During the first three months, Hunan's trade with ASEAN countries increased 30.2% over the same period of last year to 21.7 billion yuan. Trade between Hunan and the countries signed the Regional Comprehensive Economic Partnership (RCEP) agreement expanded 10.3% year on year to 37.69 billion yuan. Hunan's trade with Belt and Road countries rose 24.3% to 37.39 billion yuan.

The province's private enterprises posted steady growth in imports and exports in the first quarter.

Foreign trade of private enterprises amounted to 87.26 billion yuan, up 7.5% year on year and accounting for over 75% of the provincial total value of imports and exports during the period.

In terms of goods types, exports of labor-intensive products increased 13.2% in the first quarter to 18.63 billion yuan. Exports of textile and garment, shoes, furniture, and parts registered a relatively fast growth. Exports of high-tech products were up slightly, accounting for 14.4% of the provincial total export volume.

Imports of high-tech products grew 3.2% year on year to 10.06 billion yuan, accounting for 25.7% of the provincial total import volume.