Hubei's foreign trade up 12 pct in first eight monthsIn the first eight months of 2019, Hubei’s foreign trade turnover amounted to 238.87 billion yuan, up 12 percent year on year, realizing 8.4 percentage points higher than the national average, according to statistics released by the Wuhan Customs on September 10.
Exports rose by 10.1 percent to 148.19 billion yuan, while imports grew by 15.3 percent to 90.68 billion yuan, which were respectively 4 and 14.5 percentage points higher than average national level.
In August, the overall import-export volume of Hubei Province expanded by 15.1 percent to reach 35.59 billion yuan, reaching a new high of monthly record this year.
The European Union was Hubei's largest trading partner during this period, followed by the ASEAN, the United States and Japan, with their bilateral trade value accounting for 49.3 percent of total imports and exports.
Trade with Belt and Road countries totaled 67.94 billion yuan, jumping by 21.2 percent year on year.
Exports of mechanical and electrical products and labor-intensive products maintained growth. The province exported 80.24 billion yuan of mechanical and electrical products. The exports of labor-intensive products such as textiles and garments reached 23.38 billion yuan.
Imports of mechanical and electrical products witnessed robust growth. In the first eight months, Hubei imported 57.02 billion yuan of mechanical and electrical products as well as 2.27 billion yuan of agricultural products, soaring by 62.9 percent and 27.8 percent, respectively.
In the January-August period, Wuhan contributed nearly 60 percent to Hubei's total foreign trade. And 13 cities in Hubei developed with an upward momentum in imports and exports.
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