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Hainan’s international trade turnover with ASEAN countries reached $3 billion

Vietnam, Indonesia, Singapore and the Philippines are Hainan’s top trade partners

HAIKOU /China/, November 24. /TASS/. International trade turnover of South China's Hainan province with the Association of Southeast Asian Nations (ASEAN) countries reached 19.08 billion yuan (about $3 billion) from January to October this year. According to the customs office of the province's administrative center in Haikou, this figure is 3.6% higher compared to the same period last year.

Vietnam, Indonesia, Singapore and the Philippines are Hainan’s top trade partners among ASEAN countries. They accounted for approximately 70% of total trade turnover.

Hainan imports mainly agricultural products, organic chemicals and energy products from ASEAN countries. From January to October this year, the province imported 1.4 billion yuan ($220 million) worth of agricultural products, chemicals - 1.8 billion yuan ($280 million), coal - 1.4 billion yuan ($220 million) and liquefied natural gas - 5.5 billion yuan ($860 million).

More than half of the trade turnover 10.7 billion yuan (about $1.7 billion) was accounted for by Hainan companies which were founded with the participation of foreign capital.

Hainan Island is China's southernmost province with a logistical advantage in trade with ASEAN countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

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