Xiamen witnesses steady growth in foreign trade

Xiamen’s import and export value in foreign trade increased 32.2 percent to reach 408.15 billion yuan ($63.02 billion) in the first half of the year, hitting a record high compared with the same period of previous years. The city’s export value rose 27.8 percent to 198.84 billion yuan, while its import value was 209.31 billion yuan, up 36.7 percent year-on-year.

The city’s import and export value has achieved positive growth for 13 consecutive months since June last year. The value exceeded 70 billion yuan for the first time to reach 72.8 billion yuan in April this year. It rose to 74.06 billion yuan in May and reached a record 75.25 billion yuan in June.

The city’s foreign trade contributed 41.2 percent of Fujian’s total foreign trade growth. Compared with the same period in 2019, Xiamen’s imports, exports, as well as total imports and exports enjoyed significant growth of 37.7 percent, 18.8 percent, and 62.1 percent respectively.

Furthermore, Xiamen’s import and export value in general trade amounted to 303.13 billion yuan, up 41.5 percent. It accounted for over 70 percent of the city’s foreign trade, up 4.9 percent year-on-year.

Private enterprises maintained its leading role in the city’s foreign trade development, as the imports and exports of private enterprises were valued at 150.75 billion yuan, increasing 50.3 percent year-on-year and accounting for 36.9 percent of the city’s total foreign trade value.

The import and export value in processing trade expanded 24.5 percent year-on-year to reach 61.2 billion yuan, making up 15 percent of Xiamen’s foreign trade value.

In addition, the city’s import values of coal, cotton yarn, barley, and beer ranked first in China, while its import value of dairy products was second in the country.

The export values of shoes, sports products, and tungsten also ranked first in the country. The export values of pharmaceuticals, rare earths, granite, and flue-cured tobacco ranked second nationally, while the export values of valve and coke ranked third in the country.

Among the city’s dominant export products, pharmaceuticals, rare earths, and flue-cured tobacco experienced rapid growth, with their growth rate being over 50 percent higher than the national averages.