First Half of 2021 Hainan’s Import/Export Hit CNY 58.51 billion

In the first half of 2021, Hainan’s import and export of goods reached CNY 58.51 billion for a year on year increase of 46.1% and a growth rate which was 7.6 percentage points higher than the comparable January-May period. With CNY 14.13 billion yuan in exported goods (an increase of 1.9%) and CNY 44.38 billion yuan in imported goods (an increase of 69.5%), Hainan’s growth rate ranks fifth in China.

The statistics show that—in the first half of this year—imports and exports between Hainan and countries taking part in the Belt and Road Initiative (BRI) amounted to CNY 16.74 billion yuan for an increase of 5.2% after the 8.7% decline which happened last year during this period. Hainan’s trade with BRI countries accounts for 28.6% of the province’s total import and export value.

The foreign trade situation in Hainan during the first half of the year shows that Hainan’s imports and exports to countries taking part in the BRI has rebounded after last year’s decline, and that imports and exports to the European Union have nearly doubled. Additionally, it can be seen that imports and exports by Hainan’s private enterprises have continued to flourish and the import/export decline experienced by foreign-invested enterprises has continued to narrow.

The first half of this year has also seen Hainan’s imports of consumer products more than doubling with the value of imported consumer products hitting CNY 21.47 billion yuan (a significant increase equivalent to 140.5% that also accounts for 48.4% of the total value of goods imported into Hainan during this period).

Compared with the same period in 2020, the number of private enterprises engaged in import/export in Hainan increased by 332 to a total of 854 for an increase of 63.6%.