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ASEAN countries Hainan's largest trade partners for three consecutive years

In the first 10 months of 2024, Hainan's foreign trade with ASEAN countries totaled 48.29 billion yuan

HAIKOU, November 30. /TASS/. The countries of the Association of Southeast Asian Nations (ASEAN) have been the largest trading partners of the southern Chinese province of Hainan for three consecutive years, the Hainan International Communication Network (HICN) reported with reference to data provided by the Haikou Customs Department.

According to the report, Hainan's foreign trade volume with ASEAN countries reached 48.29 billion yuan ($6.7 billion) in the first 10 months of 2024, up 66.5% from the same period last year. In recent years, Hainan has greatly expanded trade routes with ASEAN countries and established new logistics channels to further promote trade. For example, in April this year, two new logistics channels for international transportation were opened between ASEAN countries and Xiaochantan wharf in Yangpu Port, through which containers are delivered to major seaports in China.

In the first ten months of this year, Hainan's trade turnover with Indonesia exceeded 10 billion yuan ($1.4 billion), up 17.1% year on year. The province's trade turnover with Malaysia, Singapore, Thailand and Laos also showed rapid growth rates.

Hainan exports not only automobiles, steel, furniture and auto parts to ASEAN countries, but also pharmaceuticals, fruits, seafood, paper and other goods, according to customs data. In the first ten months of 2024, exports of Hainan-made electromechanical products to ASEAN countries increased by 616.5%, while shipments of steel products rose by 111.2%. Exports of fruit, squid, fish, pepper, coconut products and other agricultural products are also on the rise.

Hainan's durian and other tropical fruits, as well as coffee and oil, are being supplied to the Hainan market from ASEAN countries, greatly enriching the province's consumer market. In September, large river shrimp fry were imported to Hainan from ASEAN countries, which has contributed to Hainan's aquaculture development.

Hainan has also strengthened cooperation with ASEAN countries in the petrochemical industry. In the first ten months of this year, Hainan's petrochemical exports totaled 7.99 billion yuan ($1.1 billion). The year-on-year growth of this indicator was 17.7%.

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