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Nanyang foreign trade up 39.2% in first five months of 2018

(chinadaily.com.cn) Updated: 2018-07-10

The total value of Nanyang's foreign trade rose by 39.2 percent year-on-year to 6.48 billion yuan ($977.2 million) in the first five months of this year, ranking second in Henan province, according to the Nanyang Bureau of Commerce.

This double-digit growth was largely fueled by private enterprises, whose trade value saw a phenomenal 50.6 percent growth from last year and made up 83.3 percent of the city's total. State-owned enterprises showed stable performance, with their export-import value growing by 22.4 percent to 650 million yuan.

Nanyang foreign trade up 39.2% in first five months of 2018

Nanyang Jianxing Tableware produces more than 2 million sets of tableware annually, which are mostly exported to the US and Europe. [Photo/Nanyang Daily]

Agricultural, mechanical, electronic, and textile products were major commodities on Nanyang's foreign trade list. The city exported 3.69 billion yuan worth of agricultural products from January to May, representing a whopping 72.9 percent increase from last year and 68.7 percent of its total export value.

During this period, Nanyang saw robust trade with emerging economies, including Africa, Latin America, Oceania, the Association of Southeast Asian Nations (ASEAN) and the Middle East. The trade value with these regions grew by 47.1 percent to 3.5 billion yuan, more than half the city's total.

Trade with traditional markets such as the United States (US), European Union (EU), Japan, and South Korea showed no sign of weakening, growing by 36.8 percent to 2.47 billion yuan in the first five months.

Nanyang foreign trade up 39.2% in first five months of 2018

High-quality kiwi from Xixia county, Nanyang, is sold to more than 40 domestic cities, as well as foreign markets such as South Korea, Ukraine and Southeast Asia. [Photo/cnr.cn]

 

 

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