Hubei Province saw its total import and export volume rise 4.1 percent year on year to 246.92 billion yuan in the first five months of this year, according to Wuhan Customs on June 14, 2023.

Out of total, the exports expanded 9.4 percent to 171.94 billion yuan during the period, while imports registered 74.98 billion yuan, a drop of 6.4 percent.

In May alone, the province’s imports and exports reached 57.11 billion yuan, up 7.3 percent.

In the five months, Hubei’s imports and exports under general trade stood at 188.9 billion yuan with a growth rate of 8.1 percent, accounting for 76.5 percent of the province’s total imports and exports.

During the same period, Hubei’s trade with the Association of Southeast Asian Nations, the European Union and the United States – its top three trading partners, amounted to 40.79 billion yuan, 31.48 billion yuan and 23.53 billion yuan, respectively, growing by 15.7 percent and 8.9 percent with the former two and a fall of 15.8 percent with the United States.

In addition, the province’s trade with countries along the Belt and Road expanded more than 30 percent to 85.39 billion yuan in the five months.

Private enterprises made up increasing share of the province's imports and exports during the period, with total volume of 168.33 billion yuan, up 15.6 percent.

Hubei exported 81.42 billion yuan of mechanical and electrical products from January to May, accounting for 47.4 percent of the province's total export volume. (en.hubei.gov.cn by Ruan Xinqi)