Fujian's foreign trade maintains sound growth from Jan to July
chinadaily.com.cn| Updated: Aug 16, 2019
The foreign trade in East China's Fujian province has increased steadily in the first seven months of 2019, with the total value reaching 749 billion yuan ($106.39 billion), an increase of 6.6 percent year-on-year, according to data released by Fuzhou Customs.
From January to July, the export volume climbed by 11.7 percent to 479 billion yuan, while the import volume went down by 1.4 percent to 270 billion yuan.
Domestic enterprises have showed steady growth momentum. Private enterprises imported and exported 376.33 billion yuan worth of goods, an increase of 14.1 percent year-on-year. Meanwhile, the import and export volume of State-owned enterprises hit 127.35 billion yuan, growing 7.4 percent.
In addition, the province's foreign trade with ASEAN and the EU surged by 14.9 percent and 12.3 percent to 137.62 billion yuan and 108.79 billion yuan respectively. On the other hand, Fujian experienced a 10.3 percent decline in trade with the US, standing at 103.47 billion yuan.
Foreign trade with BRI countries reached 256.88 billion yuan, expanding 12.4 percent year-on-year. The trade growth with Latin America and Africa hit 17.3 percent and 23.2 percent respectively.
Additionally, the export volume of labor intensive products went up by 16.8 percent to 178.98 billion yuan. The export of mechanical and electrical products reached 173.31 billion yuan, rising 12.8 percent. At the same time, the province imported 31.4 billion yuan in agricultural products, 25.31 billion yuan in crude oil, and 21.05 billion yuan in iron ore, an increase of 3 percent, 19.4 percent, and 37.6 percent respectively.