Hunan's total import and export value amounted to 561.66 billion CNY in the first 11 months of the year, according to the Changsha Customs data released on December 12. Imports expanded 15.4 percent year on year to 193.54 billion CNY.

Over the previous months this year, Hunan has given play to the functions of the designated ports for import, and expanded import of grain, ores for the new energy industry, fuel oil, and consumer goods. These efforts have played a positive role in stabilizing foreign trade.

In the first 11 months, Hunan's import value of metal ores and ore sand increased by 9.7 percent year on year to 34.87 billion CNY; and, that of agricultural products up 14.2 percent to 31.84 billion CNY.

ASEAN, Hong Kong SAR, the U.S.A., and the EU remained the four largest trade partners of Hunan Province during this period. Hunan's trade with the countries involved in the Belt and Road Initiative (BRI) amounted to 293.68 billion CNY, more than half of the provincial total foreign trade.

Hunan's export of mechanical and electrical products to South Korea and Hong Kong SAR maintained a leading position. In the first 11 months, Hunan's trade with Hong Kong SAR and South Korea grew 8.4 percent and 2.3 percent respectively. The import and export of agricultural products, energy and ore products, and labor-intensive products kept expanding. Hunan's trade with the BRICS countries increased by 10 percent year on year to 68.86 billion CNY, while its trade with the African countries grew 0.7 percent to 50.74 billion CNY.

The high-base effect from 2022 created additional upward pressure on Hunan's foreign trade development. Between January and November, the export value of Hunan's manufacturing enterprises rose 6.8 percent to 137.1 billion CNY, while the figure of the non-manufacturing businesses shrank 26.8 percent year on year, taking up over 60 percent of the provincial total and pulling the provincial export down.

This article is from Hunan Provincial Government. www.enghunan.gov.cn.

Translator: Pang Yuehui