Quanzhou sees increasing exports to ASEAN countries

Updated: Mar 12, 2020 L M S

From January to February, Shishi market procurement trade pilot zone in Quanzhou generated exports valued at 1.98 billion yuan ($284.02 million), experiencing a huge year-on-year increase of 171.2 percent, according to Quanzhou customs.

That rate of growth far outperformed total imports and exports in Quanzhou of 25.75 billion yuan, which posted a year-on-year decrease of 11.5 percent.

During the period, the city's exports totaled 17.51 billion yuan, down 9.5 percent, while imports amounted 8.24 billion yuan, down 15.5 percent.


Export goods are inspected at the Shishi market procurement inspection platform. [Photo/qzwb.com]

Since late January, the city's import and export value has been greatly affected by the novel coronavirus pneumonia epidemic.

However, the city's exports to ASEAN countries have grown against the trend and its foreign economic and trade business is in a state of rapid and orderly resumption of production, officials said.

In the first two months of this year, the total value of the city's trade with ASEAN countries reached 4.75 billion yuan, representing year-on-year increase of 10.6 percent, of which the exports to ASEAN countries was 4.34 billion yuan, an increase of 11.5 percent over the same period last year.

As a hotspot of the private economy, Quanzhou private enterprises' exports to ASEAN countries amounted to 3.51 billion yuan, an increase of 17.6 percent, accounting for 80 percent of the total export value.

The bulk of the first two months of Quanzhou's imports were mainly raw materials, such as crude oil and agricultural products -- of which crude oil imports were 4.7 billion yuan, a year-on-year decrease of 8.7 percent and accounting for 57 percent of the total import value.

At present, Quanzhou foreign trade enterprises have returned to full operational capacity. As of March 9, 64.88 percent of the 167 food export companies in the city had resumed operations.