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Hunan's foreign services trade grows by 3.9 folds

​By Zhang Junmian
​China.org.cn, 01 12, 2018
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Hunan's foreign trade in services (exports and imports) totaled US$5.15 billion in 2016, up 3.9 folds over the past decade, according to a report recently released by the Department of Commerce of Hunan Province and Hunan Branch of the State Administration of Foreign Exchange (SAFE).


Of the figure, exports were US$910 million and imports were US$4.24 billion.


The report shows that Changsha accounted for more than 50 percent of the figure.


Trade in services concerning tourism, studying overseas and medical treatment, took up around 70 percent of the total.


Hunan's foreign services trade has maintained a steady growth but deficit continues to expand. During the Tenth Five-Year Plan period (2011-2015), Hunan's foreign services trade saw a yearly growth rate of 21.7 percent on average, six percentage points higher than the national total.


During the period between 2007 and 2016, the province's foreign services trade increased by 3.9 folds, with imports growing by 7.8 folds. In 2016, foreign services trade deficit reached US$33.3 billion, a record high. 

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