Hainan's export growth rate for trade in goods ranks 1st in China

According to Haikou Customs, Hainan's export of goods in the first 10 months grew by 114 percent, 101 percentage points faster than that of the country as a whole, ranking first nationally.

In the first 10 months of this year, Hainan's import and export of goods reached 162.68 billion yuan ($22.66 billion), which exceeded the total import and export value of the whole year last year, and represented a year-on-year growth of 43.1 percent, 33.6 percentage points faster than the national growth rate in the same period, and the third fastest in China.

In the first 10 months, 17 of Hainan's 18 cities and counties with import and export records achieved growth to varying degrees. Danzhou, Haikou and Sanya rank in the top three. Among them, the import and export value of Danzhou was 75.81 billion yuan, up 36.5 percent, accounting for 46.6 percent of the provincial import and export value in the same period. Haikou and Sanya had imports and exports of 49.77 billion yuan and 18.23 billion yuan respectively, up 37.1 percent and 9.9 percent respectively and accounting for 30.6 percent and 11.2 percent of the province's total value respectively.

General trade accounts for more than half of the total and is growing rapidly. In the first 10 months, Hainan imported and exported 91.43 billion yuan in general trade, an increase of 57.9 percent. The import and export of bonded logistics was 39.03 billion yuan, up 45.8 percent.

ASEAN and the EU are the top two trading partners of Hainan. In the first 10 months, Hainan's import and export to ASEAN reached 31.18 billion yuan, an increase of 63.2 percent. Imports and exports from and to the EU totaled 27.68 billion yuan, up 66.4 percent. Over the same period, import and inbound and outbound shipments from and to countries along the Belt and Road reached 59.93 billion yuan, an increase of 82.9 percent. To Regional Comprehensive Economic Partnership (RCEP) member countries they reached 58.16 billion yuan, up 27.4 percent.

In addition, in the first 10 months of this year, consumer goods were the largest import category in Hainan, accounting for 34.4 percent of the total import value of the province in the same period. Electromechanical products became an export highlight, doubling in volume.

An aerial view of Haikou, capital of Hainan province. [Photo/IC]