EU Becomes the Largest Export Market in Wuhan, Hubei ProvinceEU Becomes the Largest Export Market in

 According to Wuhan Customs, in the first four months of this year, the import and export of RMB 16.450 billion to the EU by Hubei Province increased by 12.5% over the same period last year (the same below). Bilateral trade accounts for 15.3% of Hubei's foreign trade. Among them, imports to the EU amounted to 5.72 billion yuan, an increase of 26.2%, and exports to the EU amounted to 10.73 billion yuan, an increase of 6.3%. The EU has become the largest export market of Hubei Province and the largest trading partner of Hubei Province.

 

From January to April this year, the top three trading partners of Hubei Province ranked in the order of EU, ASEAN and USA. Previously, the largest trading partner in Hubei Province was the United States.
 
Hubei's imports and exports to the EU show the following characteristics:
 
First, the structure of import and export commodities has been optimized, and the import of machinery and equipment and computer integrated manufacturing technology has doubled. Imports of mechanical and electrical products from the European Union increased rapidly in Hubei Province. From January to April, imports of mechanical and electrical products reached 4.37 billion yuan, an increase of 49.6%, accounting for 76.4% of the total value of Hubei's imports from the European Union in the same period. Among them, 2.8 billion yuan of imported machinery and equipment, an increase of 1.1 times; 1.07 billion yuan of imported computer integrated manufacturing technology, an increase of 1.9 times. Nearly 50% of the export commodities are mechanical and electrical products, especially high-tech products. From January to April, the export of mechanical and electrical products from Hubei Province to the EU accounted for 49.3% of the total value of Hubei's exports to the EU during the same period. Among them, the export of liquid crystal displays amounted to 360 million yuan, an increase of 40.5%.
 
Second, Germany, the Netherlands, France and the United Kingdom are the top four trading partners. From January to April, the import and export of Hubei Province to Germany reached 4.62 billion yuan, an increase of 16.7%, accounting for 28.1%; to the Netherlands, an increase of 35.2%, accounting for 11.8%; to France, an increase of 1.65 billion yuan, an increase of 2%, accounting for 10%; to Britain, an increase of 1.43 billion yuan, an increase of 39.8%, accounting for 87%. Total imports and exports from the above four countries amounted to 9.64 billion yuan, accounting for 58.6%.
 
Third, the amount of import and export of private enterprises accounts for half of the total, which has increased substantially over the same period of last year. From January to April, private enterprises in Hubei Province imported and exported 8.49 billion yuan to the EU, an increase of 42%, accounting for 51.6%.
 
Fourthly, the import and export of general trade mode and bonded logistics mode are growing rapidly. From January to April, Hubei Province imported and exported 12.66 billion yuan to the EU through general trade, an increase of 22.2%, accounting for 77% of the total value of imports and exports to the EU in the same period; imports and exports by bonded logistics amounted to 910 million yuan, an increase of 75%, accounting for 5.5%.

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