On July 30th,the reporter learned from Yichang Customs that Yichang’s total import and export value of foreign trade has reached 8.57 Billion yuan in the first half year, up 8.4% year-on-year, in which the exports have amounted 7.27 billion yuan, with an increase of 6.3%; the imports have reached 1.3 billion yuan, growing 21.7%; the trade surplus was 5.97 billion yuan, with the growth of 3.6%. And the city’s foreign trade structure has been continuously optimizing.
Substantial growth of processing trade export
In the first half year, Yichang’s import and export value of general trade has reached 6.24 billion yuan, with 5.51 billion yuan of exports and 730 million yuan of imports. And the value of import and export of processing trade is 2.23 billion yuan, with a huge growth of 41%, accounting for 26% of the city’s gross value of import and export on foreign trade in the same time, up 6% than last year.
The relevant person in charge of Yichang Customs considers that the substantial growth of processing trade is mainly benefit from the introduced major project, which stimulate the growth points of import and export in processing trade, especially drive the huge growth of LCD and its parts.
The advantage of foreign-invested enterprise is very obvious in export enterprises. The gross value of import and export is 2.02 billion yuan, an increase over 50%, in which exports are 1.7 billion yuan, increasing 65.5%, and imports are 320 million yuan, up 3.6%. The import and export value of private enterprise is 3.8 billion yuan, and 2.75 billion yuan of state-owned enterprise.
The United States become the second largest trade partner
In the first half year, ASEAN, the United States, European Union, India, South Korea and Japan are top six trade partners of Yichang, and the total bilateral trade value have accounted for 66.2% of the total foreign trade value of the city.
The suspension of tariff concession on the United States has had little impact on local enterprises. So the United States remains the second largest trade partner of Yichang, with the gross value of bilateral trade accounting for 13.1% of the city's total foreign trade value.
The total import and export value of the countries along The Belt and Road Initiative is 3.72 billion yuan, up 18.3%, accounting for 43.4% of Yichang’s total foreign trade value. Among them, the gross value of bilateral trade with India increased by 78.2%, and 2.7 times growth with Russia.
Thriving High-tech products
Before July, the export of high added-value products is steadily growing, in which the exports of electromechanical products are 1.48 billion yuan, an increase of 47.3%, while the exports of high-tech products are 980 million yuan, up 18.9%.
What’s more, the exports of organophosphorus derivatives have increased by 1.2 times, and the exports of electric conductors have grew by 1.6 times. And the export of color digital TV receivers of LCD have increased by 25.3%, and export of liquid crystal display panels have rose by 8.1 times.
In terms of traditional competitive industries, the export of labor intensive industry, textile industry, and agricultural products have been achieved positive growth. While in the export of canned citrus fruits and fresh apples from traditional agricultural products have also accomplished substantial growth, especially the exports value of canned citrus fruits are 98.42 million yuan, up 79.4%. (Reporter: Yang Jing; Correspondent: Sun Furong; Intern: Feng Xiaozhu)