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Trade with Belt and Road countries rose 43.3 pct in 2017

​By Zhang Junmian
​China.org.cn, 01 31, 2018
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Hunan's imports and exports with countries along the Belt and Road routes increased by 43.3 percent to 58.72 billion yuan (US$9.18 billion) in 2017, according to customs statistics, Hunan Daily reports.

In 2017, exports to Belt and Road countries topped 48.25 billion yuan (US$7.54 billion), up 43.14 percent year-on-year, while imports hit 10.47 billion yuan (US$1.64 billion), up 44 percent.

Trade with the Association of Southeast Asian Nations (ASEAN) stood at 27.18 billion yuan (US$4.25 billion), up 49.9 percent, accounting for 46.3 percent of the provincial total. Trade with Russia reached 5.49 billion yuan (US$857.81 million), up 1.4 folds, accounting for 9.3 percent of the total.

Electromechanical products were the major goods exported to Belt and Road countries and exports of labor-intensive products saw a substantial growth.

Exports of electromechanical products surged by 43 percent to 22.23 billion yuan (US$3.47 billion), accounting for 46.1 percent of the province's total exports to relevant countries. Exports of labor-intensive products jumped by 82.5 percent to 11.31 billion yuan (US$1.77 billion), accounting for 23.4 percent of the total.

In terms of imports, Hunan's imports of electromechanical products, agricultural products, new and high-tech products, and lead ore and lead concentrate grew fast. 

In 2017, imports of electromechanical products and new and high-tech products from countries along the Belt and Road were 2.03 billion yuan (US$317.19 million) and 1.27 billion yuan (US$198.44 million), up 1.1 folds and 1.8 folds, respectively. 


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