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Wenzhou's Foreign Trade: an Auspicious Start
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2018.03.29】

It was learned from the Wenzhou Customs that from Jan. to Feb. 2018, the total import and export value of Wenzhou City was 25.996 billion yuan, an increase of 38.6% over the same period of last year. Among this total, exports account for 22.654 billion yuan, up 39.03%, and imports for 3.341 billion yuan, up 35.75%, with trade surpluses up to 19.313 billion yuan, a rise of 39.61% YoY. The export growth rate is the fourth, and the import growth rate ranks third in ZhejiangProvince.In February, Wenzhou’s total value of imports and exports came to 12.297 billion yuan, an increase of 93.73% YoY.

Export: From Feb., Wenzhou City exported 10.76 billion yuan of electromechanical products, 9.444 billion yuan of seven categories of traditional labor-intensive products, and 596 million yuan of high-tech products, up 40.58%, 34.96%, and 29.15% respectively YoY, accounting for 47.5%, 41.69%, and 2.63% of the total value of this City's exports respectively in the same period.In February, the exports of the above three kinds of products doubled YoY, with exported electromechanical products, seven categories of traditional labor-intensive products, and hi-tech products valued at 5.611 billion yuan, 4.359 billion yuan, and 3.04 million yuan respectively, an increase of 1.42 times, 1.14 times, and 1.01 times respectively YoY.According to analysis, the drastic increase of the above exports in Feb. may be partly attributed to local foreign trade companies’ expediting export before the Spring Festival.

Import:imports of liquefied gas, steel, and synthetic rubber doubled in the first two months this year, and those of high value-added goods continued to grow rapidly. The import value of electromechanical products and hi-tech products increased by 92.45% and 3.18 times respectively YoY. Among the imported products, mechanical equipment, machine tools for metal processing, technology-oriented products from computer-integrated manufacturing, printing and binding machinery and parts, and electronic technology products doubled, showing WenzhouCity's brisk demand for the import of advanced equipment and technology.

It is notable that from Jan. to Feb., Wenzhou City's exports to countries along the Belt and Road were valued at 8.805 billion yuan, and imports from these countries at 1.319 billion yuan, registering a jump of 51.4% and 1.16 times respectively YoY, the former accounting for 38.87% of the city's total exports, and the latter for 39.46% of its total imports in the same period.

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