Hunan's foreign trade maintained sound growth in the first five months of 2018, according to customs statistics, Hunan Daily reports.

The province's import and export volume topped 105.21 billion yuan (US$16.44 billion) during the January-May period, a 34.3 percent increase year on year.

Exports were 65.42 billion yuan (US$10.22 billion), up 33.2 percent, while imports were 39.79 billion yuan (US$6.22 billion), up 36.1 percent.

General trade registered 77.78 billion yuan (US$12.15 billion), up 41.8 percent, accounting for 73.9 percent of the province's total foreign trade, 3.4 percentage points more than that of the same period of 2017.

Between January and May, private companies' foreign trade surged by more than 50 percent, accounting for 65.1 percent of the provincial total, 7.1 percentage points higher than that of the same period of 2017.

Hong Kong remained Hunan's largest trading partner. Hunan's trade with Hong Kong hit 12.43 billion yuan (US$1.94 billion). Its trade with the United States was 11.91 billion yuan (US$1.86 billion), up 39.3 percent. Its trade with South Korea, the ASEAN countries and the EU jumped by 57.3 percent, 61.2 percent and 56.6 percent, respectively.

Electromechanical and traditional labor-intensive products continued to be major exported items during this period. Exports of electromechanical products reached 28.76 billion yuan (US$4.49 billion), up 27.9 percent, accounting for 44 percent of the province's total exports. Exports of high-tech products were 8.15 billion yuan (US$1.27 billion), up 9.1 percent.

Imports of electromechanical products grew by 41 percent to 17.25 billion yuan (US$2.7 billion), accounting for 43.4 percent of the province's total imports; imports of high-tech products surged by 120 percent to 9.47 billion yuan (US$1.48 billion), accounting for 23.8 percent. 

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