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Fujian's foreign trade booms with 13.1% import and export growth in Jan-Feb

gofujian.com.cn | Updated: 2024-03-14

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China's Hualong One demonstration project in Fuqing, East China's Fujian province. [Photo provided to gofujian.com]

In January-February this year, Fujian's foreign trade saw a 13.1 percent year-on-year year-on-year growth, reaching 334.06 billion yuan ($46.5 billion). Specifically, exports surged by 20.8 percent to 207.02 billion yuan, while imports grew by 2.5 percent to 127.04 billion yuan.

Key highlights include a simultaneous increase in general trade and processing trade. General trade accounted for 77.6 percent of total foreign trade, amounting to 259.3 billion yuan, while processing trade reached 31.84 billion yuan, representing 9.5 percent of the total.

Notably, foreign trade among private enterprises exceeded 60 percent for the first time, reaching 207.35 billion yuan and accounting for 62.1 percent of total foreign trade. State-owned enterprises' imports and exports declined by 5.3 percent to 64.83 billion yuan, representing 19.4 percent of the total, while foreign-invested enterprises saw a 9.1 percent year-on-year growth, reaching 61.66 billion yuan and accounting for 18.5 percent of the total.

Exports to ASEAN, the United States, and the European Union all experienced double-digit year-on-year growth. Specifically, exports to ASEAN reached 77.14 billion yuan, to the United States 44.25 billion yuan, and to the European Union 41.36 billion yuan.

Exports of major products, including electromechanical and labor-intensive products, showed substantial year-on-year growth, with electromechanical products reaching 89.07 billion yuan and labor-intensive products reaching 65.14 billion yuan.

Meanwhile, imports of electromechanical products surged by 24.4 percent to 20.06 billion yuan, while agricultural product imports grew by 14 percent to 19.36 billion yuan, accounting for 15.2 percent of the total. Imports of major commodities declined during this period.


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