In the first five months, Hunan Province’s cumulative import and export reached 68.3 billion yuan, a year-on-year increase of 6.9%, ranking 19th in the country in terms of foreign trade scale. Among them, exports were 49.42 billion yuan, a year-on-year increase of 26.6%; imports were 18.88 billion yuan, a year-on-year decrease of 24.1%. On June 16, a reporter from Sanxiang Metropolis Daily learned from Changsha Customs that the province’s import and export, export, and import growth rates from January to May fell by 13.4, 23.9, and 1.6 percentage points respectively compared with the previous four months.
Hunan Province’s exports had a “good start” in the first quarter, with a growth rate of 83.2%. The good situation failed to continue in the second quarter. In April, exports fell by 10.2% year-on-year. In May, the decline in exports expanded to 27.8%, making the decline even more obvious.
According to Changsha Customs statistics, among the province’s main export commodities from January to May, steel and clothing exports dropped significantly. Steel exports were 2.76 billion yuan, a year-on-year decrease of 8.2%; clothing exports were 2.56 billion yuan, a decrease of 25.3 times. Since steel and clothing are the two categories of commodities with the largest export value in our province, the province’s exports have been hit.
The export of mechanical and electrical products grew strongly against the market trend and became an export “star”. From January to May, the export of mechanical and electrical products was 21.96 billion yuan, a year-on-year increase of 37.6%, accounting for 44.4% of the province’s total exports during the same period.
The decline in imports continues. In May, the province’s imports fell by 28.5% year-on-year. Our province’s imports have dropped year-on-year for nine consecutive months, and the decline continues to expand. Customs analysis believes that the decline in prices of bulk commodities such as iron ore and crude oil is the main reason for the sluggish imports in the province. The average price of imported iron ore in May was 320 yuan/ton, the lowest since 2009, lowering imports in our province by 12 percentage points.
Hunan’s foreign trade growth slowed down, and clothing lags behind
In the first five months, Hunan Province’s cumulative import and export reached 68.3 billion yuan, a year-on-year increase of 6.9%, ranking 19th in the country in terms of foreign trade scale. Among them, expor…
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