In the first two months of this year, Hainan's foreign trade imports and exports increased by 21.8% year-on-year, according to the Haikou Customs. The total import and export value of goods in Hainan was RMB 34.49 billion (about USD 4.95 billion). Exports hit RMB 11.32 billion (about USD 1.62 billion), up 61%, and imports were RMB 23.17 billion (about USD 3.33 billion), an increase of 8.9%.

In the first two months of 2023, 13 out of Hainan’s 17 cities and counties achieved growth in terms of imports and exports. Among them, Danzhou, Haikou, and Sanya ranked in the top three, with import and export values of RMB 16.22 billion, RMB 10.93 billion, and RMB 4.56 billion, respectively, accounting for 47%, 31.7%, and 13.2% of the province's total import and export value during the same period.

Haikou Port, a container terminal located in Hainan’s capital, Haikou (Photo: Hainan Daily / Chen Yuancai)

Imports and exports between Hainan and countries involved in the Belt and Road Initiative totaled RMB 11.5 billion, an increase of 35.4%, accounting for 33.3% of total trade with the island’s trading partners. Imports and exports to other Regional Comprehensive Economic Partnership (RCEP) member countries reached RMB 10.51 billion, an increase of 14.2% and accounting for 30.5% of the total trade volume.

In the first two months of 2023, general trade accounted for nearly 60% of the total foreign trade volume, leading in terms of growth rate. Imports and exports via general trade totaled RMB 19.69 billion, an increase of 50.4%.

Private enterprises remained the largest foreign trade entities in the province. In the first two months of 2023, imports and exports by private enterprises in Hainan totaled RMB 19.33 billion, an increase of 66.9%.

During January and February, consumer goods constituted the largest category of imported goods in Hainan, while mechanical & electrical products and refined oil made up the bulk of exports.