Hubei’s imports and exports reached 510.13 billion yuan in the first ten months of this year, up 0.6 percent year on year, according to local customs on November 20, 2023.

  Out of total, the exports stood at 342.11 billion yuan while imports 168.02 billion yuan. In October alone, Hubei’s imports and exports rose 23.4 percent to 53.38 billion yuan.

  Private enterprises maintainedan important accelerator for the province's foreign trade growth. From January to October, the imports and exports of private enterprises in the province expanded 8.5 percent to 343.2 billion yuan, accounting for 67.3 percent of the province’s total foreign trade volume, up 4.9 percentage points year on year.

  Over the same period, Hubei’s trade with its top two partners -the Association of Southeast Asian Nations and theEuropean Union respectively climbed 8.8 percent and 7.3 percent to 84.63 billion yuan and 66.85 billion yuan. And the trade with Belt and Road participating countries hit 243.02 billion yuan, with a year-on-year growth of 8.6 percent.

  Hubei saw exports of labor-intensive, mechanical and electrical products jump in the first ten months, with export volume of the former soaring 18.1 percent to 54.94 billion yuan and the latter increasing to 175.14 billion yuan.

  Meanwhile, Hubei imported 51.2 billion yuan of bulk commodities such as energy, metal ore and grain, up 50 percent and 12.34 billion yuan of consumer goods, up 36 percent. (en.hubei.gov.cn by Ruan Xinqi)

  Source: en.hubei.gov.cn