Hunan's import and export volume reaches $19 billion

The volume of import and export of Hunan province reached $19 billion in 2011, ranking 21st in China. The export volume amounted to $9.9 billion and the import reached $9.1 billion, an increase of 29.6 percent and 7.2 percent higher than China’s average growth rate.

In 2011, the state-owned and private enterprises became closer. The import and export of the foreign invested enterprises gained rapid growth. The total import and export volume of Hunan's private enterprises achieved $7.16 billion with a growth of 25 percent year on year. The trade volume of foreign invested enterprises amounted to $4.55 billion, rising 46.8 percent. The foreign trade grew faster in the emerging markets than in the traditional ones including Japan, US and Europe.

Year 2011 also saw a further optimized export mix in Hunan. Labor intensive products weighed less, mechanical and electrical products and high-tech products were improved steadily. The import of resources, raw materials, equipments and spare parts such as automobiles and integrated circuits gained a rapid growth.