HAIKOU /China/, January 24. /TASS/. The total volume of foreign trade turnover of the southern Chinese province of Hainan in 2024 reached 277.65 billion yuan ($39.1 billion), which is 20% more than the figure for 2023, Hainan Daily reported.
Last year, exports increased by 43.5% to 106.22 billion yuan ($14.9 billion). The corresponding figure surpassed the 100 billion yuan mark for the first time in history. As for imports, they reached 171.43 billion yuan ($24.1 billion) in 2024, up 8.9% year on year. In 2024, the total number of enterprises engaged in foreign trade activities increased by 28.2% to 2,479 enterprises, according to statistics.
Last year, the province's foreign trade with Belt and Road Initiative countries grew 41.5% year-on-year to 167.7 billion yuan ($23.6 billion). ASEAN countries are other important trading partners for Hainan. In 2024, the province's trade volume with them increased by 62.3% to 57.91 billion yuan ($8.1 billion).
The trade turnover with Russia went up 37.7% to 16.83 billion yuan ($2.3 billion) during the period. The growth of Hainan's foreign trade with African and Latin American countries was also noted.
Hainan's main exports are mechanical and electrical products. In 2024, 46.61 billion yuan ($6.5 billion) worth of such goods were shipped to foreign markets, an increase of 62.9% year on year. As for imports, the province mainly purchased metal ore and various energy products during the period.