Tuesday, April 20, 2021
HomeGeneral InterestChina’s Hubei sees foreign trade surge in 2020

China’s Hubei sees foreign trade surge in 2020

WUHAN, Jan. 20 Central China’s Hubei Province, once hit hard by COVID-19, saw an 8.8 per cent growth in foreign trade in 2020, according to customs figures.

The total import and export value of the province reached 429.41 billion yuan (about 66.3 billion U.S. dollars) year, according to customs in the provincial capital Wuhan.

The total value of Wuhan’s foreign trade reached 270.43 billion yuan, accounting for 63 per cent of the province.

Hubei’s trade volume with the European Union and U.S increased by 17.1 per cent and 22.8 per cent, respectively, last year, and the province’s trade volume with the ASEAN dropped 5.6 per cent year on year.

The foreign trade by private enterprises in Hubei totaled 255.47 billion yuan, a 20.9-per cent growth year on year, accounting for 59.5 per cent of the province’s total.

The total value of import and export of cross-border e-commerce grew 67.1 percent.

Hubei’s exports of textiles, clothing and agricultural products experienced robust growth in 2020, surging by 332.9 per cent, 25.8 per cent and 12.3 per cent, respectively.

The growth of imports was boosted by semiconductor manufacturing equipment, integrated circuits and consumer goods, which rose by 25.8 per cent, 22 per cent and 45.3 per cent, respectively, year on year.

Building on its effective containment of COVID-19, China has rolled out a raft of measures to stabilise foreign trade and investment

Naija247news Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
RELATED ARTICLES

More Articles