Hubei sees 19.6 percent up for foreign trade in 2017 first two months


In January and February 2017, Hubei’s total import and export volume reached 40.92 billion yuan, an increase of 19.6 percent year on year, Wuhan Customs announced on March 13, 2017.

During the first two months of 2017, Hubei’s exports reached 24.22 billion yuan, an increase of 10.7 percent, while imports reached 16.7 billion yuan, an increase of 35.5 percent.

The European Union is Hubei’s largest trading partner with bilateral trade of 5.64 billion yuan, increasing by 10.3 percent, followed by the United States with 4.76 billion yuan and ASEAN with 4.44 billion yuan.

High-tech products are an important driver for exports. In the two-month period, exports of high-tech products reached 9.89 billion yuan, an increase of 31.5 percent, of which, 2.73 billion yuan for the mobile phone, 710 million yuan for the integrated circuit and 650 million yuan for the tablet.

As for imports, electromechanical products increased by 41 percent with 10.42 billion yuan. Imports of iron ore and copper ore reached 3.045 million tonnes and 152 thousand tonnes, respectively, a drop of 18.4 percent and an increase of 26.8 percent.

Also in the same period, Wuhan, capital of Hubei, recorded an import-export volume of 27.04 billion yuan with a growth rate of 23.9 percent, accounting for 66.1 percent of the whole province, while exports of Jingmen, Xiaogan and Huanggang increased by more than 30 percent.