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Wenzhou’s Import Growth Rate Ranks First in Zhejiang Province
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2018.06.19】

On June 15, the Wenzhou Customs released this city's foreign trade situation in the first five months of this year. Wenzhou's import growth ranks first in Zhejiang  Province. According to the statistics of the Customs, from January to May of 2018, Wenzhou's total value of imports and exports hit RMB 55.946 billion, up 14.14% YoY. Among the total, the export value accounts for RMB 46.013 billion, a rise of 8.3% YoY, and the import value was RMB 9.933 billion, an increase of 52.18% with the trade surplus up to RMB 36.08 billion, a rise of 0.33% YoY.

The data from the Customs shows that in the five months mentioned above, Wenzhou's import and export growth rate rose significantly. The import growth rate ranks first, the import and export rate second, and the export rate fourth in the province, higher than the province's corresponding average growth rate by 33.9 percent, 5.15 percent, and 2.35 percent respectively. The proportion of import value in the province's total import one increased by 0.75 percent YoY. It is disclosed that in the first five months of this year, Wenzhou exported mechanical and electrical products worth RMB 21.946 billion, up 9.52% YoY, and seven categories of labor-dense traditional products worth RMB 18.332 billion, up 4.43%, these types of exports accounting for 87.54% of the city's total export value.

From January to May of this year, the import of steel products showed a stunning increase, while that of ferroalloys fell sharply with the import of high-tech products keeping a strong growth. In the first five months, this city's import of steel was RMB 1.876 billion, a rise of 93.65 times YoY, accounting for 18.89% of the city's total import value in the same period as the above, and the imported billet and crude forgings came to RMB 1.418 billion (no import of the same products in the same period of last year), accounting for 14.28% of the total. It is reported that the import of the above-mentioned steel products contributed 96.76% to the city's import growth. In addition, the city’s import of high-tech products increased by 1.07 times, and the import of CNC machine tools and computer-integrated manufacturing technology products increased by 42.01 and 3.95 respectively, showing the city's opening demand for world advanced technologies owing to its industrial transformation and upgrading. According to the statistics of the Wenzhou Customs, from January to May this year, the city’s exports to the SCO member countries came to RMB 3.313 billion, a rise of 12.03% YoY, its exports to the Belt and Road countries totaled RMB 17.671 billion , a rise of 14.05% , and those to the EU amounted to RMB 12.13 billion, an increase of 1.07%, accounting for 7.2%, 38.4%, and 26.36% of the city's total exports in the same period respectively.

According to a source of the Wenzhou Customs, in May of this year, this city’s exports to the SCO member countries increased remarkably, and in addition, imports from the Belt and Road countries came to RMB 1.249 billion, an increase of 2.13 times YoY, accounting for 58.94% of the city’s total imports in the same period. Among the imports, those fromIndonesia, thePhilippines,Thailand, and theUnited Arab Emiratesrose dramatically by 1002.32 times, 1.21 times, 1.59 times, and 3.638 times respectively. During the same period, imports from Japan amounted to RMB 157 million, up 61.17% YoY, accounting for 8.08% of the city’s total import value, and imports from South Africa came to RMB 130 million, up 91.24% YoY, accounting for 7.81% of the total.


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