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B&R Drives Yiwu’s Export Growth
Post Time: 12/04/2018

       According to statistics from Yiwu Customs, on March 29, Yiwu’s exports to countries and territories along the Belt and Road (B&R) in January and February reached 26.17 bn RMB, a yearly increase of 63.1%, keeping a steadily growing pace.

       The number of guests visiting the Yiwu International Trade City has been increasing steadily since the beginning of 2018. According to incomplete statistics from the Trade City, 48,600 foreign customers entered the city in January and February, a yearly increase of 110.4%.

       At 10 a.m. on March 29, there were also crowds of domestic and foreign customers continuously coming and going at the third zone of the Trade City. Li Gang, an owner of a shop selling commodities for daily use, said, “The exporting of commodities from my shop started to stably rise again (after a fall) last year. Buyers from Australia, Spain, and Southeast Asia added to their orders quite a few times.”

       Faced with invisible trade barriers established by some European and American countries in recent years, the large quantity of medium and small Chinese enterprises felt that they were unable to proceed with their export trade. As a result, with the construction of the B&R, a number of Yiwu’s businessmen have begun to expand into the markets of countries and territories along the B&R. At present, these regions have become the major destinations for Yiwu’s small commodities exports.

       According to Yiwu Customs, among these export-trading partners, in January and February, India, Brazil, and Egypt accounted for the largest increase in trade volume, with a yearly increase of 136.14%, 106.74%, and 97.64%, respectively. Additionally, exports to the US, the United Arab Emirates, the Philippines, and Pakistan has also increased substantially. Regarding the exported products, mechanical and electrical products, clothing and accessories, plastic articles, toys, ceramics, and other traditionally labor-intensive products remain Yiwu’s major exports. (By Wu Fengyu Yiwu Business, translated by Luo Shuru, edited by Xiamara Hohman)

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