Hainan's foreign trade worth 84.9b yuan in 2018

The gross value of Hainan province's imports and exports in 2018 reached 84.9 billion yuan ($12.52 billion), according to data from Haikou customs.

This represents an increase of 20.8 percent over 2017, and was 11.1 percentage points higher than the national foreign trade value in 2018, a positive sign for Hainan's foreign trade.

The import-export value rose quarter by quarter and regional development became more coordinated. Ten out of 19 cities and counties in the island province saw growth in imports and exports. The eastern region doubled the value of its imports and exports, with a total value of 42.42 billion yuan, while foreign trade in the western region grew 0.9 percent to 42.1 billion. Haikou, the provincial capital, stood out with a growth of 62.3 percent, achieving a total import-export value of 34.12 billion yuan in 2018.

A total of 161 countries and regions engaged in trade with Hainan last year, the top three being the ASEAN, the US and the EU. The overall value of foreign trade with the ASEAN reached 19.93 billion yuan, and that of countries along the Belt and Road reached 31.91 billion yuan.

The total value of imports grew slightly to 29.77 billion yuan, with refined oil products being the leading import. As for exports, the total amount reached 55.13 billion yuan, with airplanes being the number one product.