Xiamen registers a steady growth in foreign trade from January to July, according to customs statistics. [Photo/WeChat account of Xiamen Free Trade Zone]
Xiamen registered a steady growth in foreign trade from January to July, according to customs statistics.
The city's foreign trade totaled 524.01 billion yuan ($72.16 billion) from January to July, an increase of 6.5 percent year-on-year. Imports totaled 255.74 billion yuan, an increase of 0.1 percent, and exports amounted to 268.27 billion yuan, an increase of 13.5 percent.
In particular, the export increase in July was 12.6 percent. This was the third consecutive month of double-digit growth.
Private enterprises were the largest foreign trade entities of the city, accounting for 38.5 percent of the total. They were followed by State-owned enterprises (35.5 percent) and foreign-invested enterprises (26 percent).
Exports were mainly mechanical and electrical products and labor-intensive products, which accounted for 42.7 percent and 28.9 percent of the total export value respectively.
Imports were mainly mechanical and electrical products and agricultural products, accounting for 19.9 percent and 18.7 percent of the total import value respectively.
The top three sources of imports were ASEAN, the United States, and Australia. The top three markets for exports were the United States, the European Union, and ASEAN.
In addition, imports and exports to countries involved the Belt and Road Initiative were worth 177.69 billion yuan, an increase of 13.8 percent. The city's trade with other BRICS countries reached 47.89 billion yuan, an increase of 20.7 percent.