China's Hunan sees foreign trade up 25.9% in January-May

Central China's Hunan Province saw its foreign trade up 25.9 percent year on year to reach 211.12 billion yuan in the first five months, according to report by a local newspaper on Wednesday quoting data released by Changsha Customs.

Of the total, exports amounted to 143.03 billion yuan, up 29.5 percent year on year, and the imports went up 18.8 percent year on year to 68.09 billion yuan.

In May, the foreign trade value of the province totaled 47.6 billion yuan.

Hunan's trade volume with its major trading partners maintained growth. From January to May, its trade value with the Association of Southeast Asian Nations (ASEAN) increased 18.8 percent year on year to 32.4 billion yuan, while that with the United States soaring 108.8 percent year on year to 30.98 billion yuan. During the period, Hunan's trade value with 27 member states of the European Union (excluding the United Kingdom), Belt and Road countries and participants of the Regional Comprehensive Economic Partnership (RCEP) agreement rose 24.8 percent, 13.2 percent and 20.3 percent year on year, respectively.

In the first five months, the most exported products of Hunan were mechanical and electrical products, whose export value accounted for 45.5 percent of the total export value. During the period, Hunan's exports of high-tech products grew 33.2 percent year on year.

The province's imports of electronic components in the January-May period decreased 32 percent year on year, while imports of metal ores, iron ores and copper ores picked up, and imports of grain rose 151 percent.

From January to May, local private enterprises kept showing vitality in foreign trade, and state-owned enterprises in Hunan saw their imports and exports grow rapidly at a rate of 73.7 percent.