Sanya's foreign trade sees growth in Q1

In the first quarter of 2023, the import and export of goods in Sanya reached 8.06 billion yuan ($1.17 billion), an increase of 8.3 percent compared to the same period last year.

Sanya's total exports for the first three months of this year reached 690 million yuan, an increase of 85.9 percent, while its imports reached 7.37 billion yuan, an increase of 4.3 percent year on year.

During this period, Sanya's imported duty-free goods registered at 3.16 billion yuan, accounting for 39.2 percent of the city's total. Imports and exports operated through bonded logistics amounted to 2.68 billion yuan, accounting for 33.2 percent.

State-owned enterprises were the main force for Sanya's high-valued imports and exports, with foreign-invested enterprises also growing rapidly. In the first quarter, State-owned enterprises imported and exported 6.26 billion yuan, accounting for 77.7 percent of the city's total. Sanya's private enterprises reached 1.79 billion yuan in import-export volume, indicating an increase of 216.1 percent which accounts for 22.3 percent of its total. The city's foreign-invested enterprises reached 2.19 million yuan in import and export volume, an increase of 467.4 percent.

The European Union (EU) is Sanya's largest trading partner, with imports and exports amounting to 2.99 billion yuan, or 37.1 percent of the city's total. Significant growth can also be found in imports and exports to Japan, South Korea, and ASEAN. In the first quarter, Sanya's imports and exports to Japan reached 940 million yuan, a growth of 56.6 percent; that to South Korea reached 420 million yuan, up 273.2 percent; and that to ASEAN reached 380 million yuan, increasing by 139.8 percent.