ASEAN remained Hunan's largest trading partner, and the bilateral trade with ASEAN maintained fast growth. During the first three months, Hunan's trade with ASEAN countries increased 30.2% over the same period of last year to 21.7 billion yuan. Trade between Hunan and the countries signed the Regional Comprehensive Economic Partnership (RCEP) agreement expanded 10.3% year on year to 37.69 billion yuan. Hunan's trade with Belt and Road countries rose 24.3% to 37.39 billion yuan.

 

The province's private enterprises posted steady growth in imports and exports in the first quarter.

 

Foreign trade of private enterprises amounted to 87.26 billion yuan, up 7.5% year on year and accounting for over 75% of the provincial total value of imports and exports during the period.

 

In terms of goods types, exports of labor-intensive products increased 13.2% in the first quarter to 18.63 billion yuan. Exports of textile and garment, shoes, furniture, and parts registered a relatively fast growth. Exports of high-tech products were up slightly, accounting for 14.4% of the provincial total export volume. 

 

Imports of high-tech products grew 3.2% year on year to 10.06 billion yuan, accounting for 25.7% of the provincial total import volume.