Hubei’s total imports and exports reached 406.85 billion yuan in the first eight months of this year, basically flat year on year, according to data released by Wuhan Customs on September 15, 2023.

Out of total, the exports amounted to 277.67 billion yuan, while the imports stood at 129.18 billion yuan.

In the first eight months of 2023, Hubei’s trade with countries involved with the Belt and Road Initiative totaled 198.02 billion yuan, an increase of 10.8 percent. And the trade with ASEAN and EU rose 9.7 percent and 4.6 percent to hit 68.68 billion yuan and 52.44 billion yuan, respectively.

Hubei’s imports and exports of general trade maintained growth during the same period, accounting for 77.3 percent of the province’s total foreign trade value with 314.63 billion yuan, 2.1 percentage points higher year on year.

In the eight months, private enterprises made up nearly 70 percent of the province’s total imports and exports with 274.85 billion yuan, a year-on-year rise of 5.1 percentage points.

During the same period, Hubei exported 138.21 billion yuan of mechanical and electrical products, a year-on-year increase of 1.9 percentage points and a proportion of nearly 50 percent of the province's total exports. And 76.63 billion yuan of industrial products were imported in the eight months, contributing to nearly 60 percent of the province’s total imports. (en.hubei.gov.cn by Ruan Xinqi)