The total value of Nanyang's foreign trade rose 37.4 percent to 7.81 billion yuan ($1.15 billion) in the first half of this year, ranking second in Henan province, according to the Nanyang bureau of commerce.
The total value of exports was 6.52 billion yuan, while the total value of imports was 1.29 billion yuan, an increase of 44.8 percent and 9.3 percent, respectively. Nanyang's foreign trade alone increased the entire province's foreign trade by 1.02 percent, and it contributed 48.6 percent of the total, ranking first in the province.
At 7.19 billion yuan, general trade accounts for 92.1 percent of total trade, and saw a rapid growth of 38.4 percent. Processing trade reached 480 million yuan, an increase of 3.4 percent. Private and state-owned enterprises were the major drivers of growth, with trade values of 6.53 billion yuan and 740 million yuan, representing a year-on-year increase of 48.5 percent and 15.8 percent, respectively.
In the past six months, agricultural products, hi-tech products, electromechanical products, and textiles were all major commodities on Nanyang's foreign trade list.
Trade with countries along the Belt & Road enjoyed strong growth, increasing by 54.6 percent to 3.81 billion yuan, making up 48.8 percent of total foreign trade.
Strong trade with emerging economies, including Africa, Latin America, Oceania, the Association of Southeast Asian Nations (ASEAN) and the Middle East grew by 60.9 percent to 4.07 billion yuan, more than half the city's total.
Trade with traditional trading partners, including the European Union (EU), the United States, Japan, South Korea, and Hong Kong remained strong, increasing by 37 percent to 3.11 billion.