Wenzhou reports one-third growth rate in Jan-July foreign trade

Statistics from Wenzhou Customs show that in the first seven months of this year, the city's total import-and-export value reached 171.59 billion yuan ($25.31 billion), a year-on-year increase of 32.9 percent, 13.4 percentage points higher than the provincial average.

The export value was 147.68 billion yuan, up 38.5 percent, while the import value was 23.91 billion yuan, up 6.1 percent.

Mechanical and electrical products, labor intensive products, and high-tech products were the three major exports of Wenzhou, with their values reaching 74.82, 52.17, and 4.83 billion yuan, respectively, accounting for 50.7 percent, 35.3 percent, and 3.3 percent of the city's total.

The value of the city's trade with the United State and ASEAN countries increased by 51.1 percent and 49.8 percent, respectively, totaling 68.15 billion yuan and accounting for 39.7 percent of the city's total. Its trade value with RCEP member countries and those involved in the Belt and Road Initiative also increased by 41.2 percent and 35.8 percent, respectively.

The export value of Wenzhou's private enterprises reached 141.35 billion yuan in the first seven months, growing 39.6 percent year on year. The import value of foreign enterprises and State-owned enterprises also rose to 2.13 billion yuan and 690 million yuan, respectively, during the same period.(ZhongXin)