Henan’s foreign trade hits 343 billion yuan in Jan-May, a record high over last year

Henan Daily

Zhengzhou: Amid global economic uncertainties, Henan’s foreign trade has shown remarkable resilience and adaptability. According to Zhengzhou Customs, the province’s total import and export value reached 343 billion yuan in the first five months of the year, marking a 27% year-on-year increase. This growth rate outpaced the national average by 24.5 percentage points, placing Henan third in the country and first in central China. The trade volume surged by 72.87 billion yuan compared to the same period last year, setting a record high. Exports amounted to 234.3 billion yuan, up by 43.1%, while imports totaled 108.7 billion yuan, rising by 2.2%. As a result, the trade surplus soared by 118.9%, reaching 125.6 billion yuan.

In May, Henan’s foreign trade totaled 67.23 billion yuan, marking a 17.5% year-on-year increase, outpacing the national growth rate of 2.7% by 14.8 percentage points. Exports amounted to 46.35 billion yuan, showing a strong growth of 39.2%.

In the first five months of this year, Henan saw 11,100 enterprises engaged in import and export activities, a year-on-year increase of 11.5%, or 1,142 more than the same period last year. This growth was primarily driven by high-performing enterprises in Zhengzhou, Luoyang, and Xinxiang. Among these, 453 enterprises reported trade volumes exceeding 50 million yuan, accounting for 86.4% of the province’s total foreign trade, with 44 more enterprises compared to last year. Notably, private enterprises contributed 251.06 billion yuan to foreign trade, up 23% year-on-year, making up 73.2% of the province’s total. Foreign-invested enterprises recorded the highest growth, with trade volume reaching 71.26 billion yuan, an increase of 74.5% from the previous year.

ASEAN continued to be Henan’s largest trading partner in the first five months of this year. Trade between Henan and ASEAN reached 44.83 billion yuan, marking a 6.6% year-on-year increase. Meanwhile, trade with the European Union grew by 23.2% to 43.22 billion yuan, and trade with Japan saw an impressive surge of 162.9%, reaching 23.47 billion yuan. During the same period, Henan’s trade with countries involved in the Belt and Road Initiative rose by 16.6%, totaling 164.08 billion yuan. Additionally, trade with other RCEP member countries soared by 30.1%, amounting to 103.03 billion yuan.