Fujian’s textile and clothing exports to “Belt and Road” countries increased significantly in the first half
Fujian Province’s foreign trade has increased steadily in the first half of the year, especially with countries along the “Belt and Road”. Trade amounted to 161.68 billion yuan, an increase of 8% over the same period last year.
According to Fuzhou Customs, private enterprises are the “leaders” in driving trade along the “Belt and Road”. In the first half of the year, Fujian Province’s private enterprises’ imports and exports to “Belt and Road” countries exceeded 100.6 billion yuan, an increase of 20.9%, accounting for Fujian Province’s total imports and exports to “Belt and Road” countries during the same period. More than 60% of the total import and export value of the “Belt and Road” countries.
In terms of trading partners, Fujian’s imports and exports to ASEAN amounted to 79.95 billion yuan, accounting for nearly half of Fujian Province’s total imports and exports to “Belt and Road” countries during the same period. In terms of product types, the import and export of mechanical and electrical products has grown steadily, while the import of resource products has become seriously differentiated. In the first half of the year, a quarter of Fujian Province’s total export value to “Belt and Road” countries was mechanical and electrical products, with the export value exceeding 28.1 billion yuan, an increase of 5.7%. In addition, exports of clothing and textile yarn products also maintained a growth rate of more than 20%. In terms of imports, Fujian mainly imports mechanical and electrical products, coal and lignite, copper sand ore, etc. from the “Belt and Road” countries, while imports of crude oil and natural gas have dropped significantly.
Analysts from Fuzhou Customs believe that the main reasons for the rapid growth of Fujian’s trade with “Belt and Road” countries in the first half of this year are: first, the improving economies of trading partners and increased demand for my country’s export products. Secondly, Fujian Province relies on the advantages of the Fujian Pilot Free Trade Zone to build a high-level opening pattern oriented to the “Belt and Road Initiative”. At the same time, building international corridors and promoting economic and trade cooperation are also important reasons for promoting trade between Fujian and “Belt and Road” countries.
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