Xinjiang'S Import And Export Trade Has Maintained Rapid Growth In The First 5 Months.

From January to May this year, Xinjiang

The total value of imports and exports amounted to US $6 billion 134 million, an increase of 6.8% over the same period last year, of which electromechanical products and

The export volume maintained a two digit growth, accounting for nearly half of Xinjiang's foreign trade exports.

According to Urumqi customs statistics, from January to May, Xinjiang achieved 5 billion 315 million US dollars in foreign trade exports, an increase of 8.2% over the same period last year, and imports of US $819 million, down 1.3% from the same period last year.

Kazakhstan continues to maintain the status of Xinjiang's largest trading partner, with a total import and export value of US $1 billion 984 million, accounting for 37.3% of Xinjiang's total foreign trade.

Xinjiang's foreign trade is still dominated by small frontier trade. Trade accounts for 56.8% of Xinjiang's total foreign trade. General trade growth is significant. The volume of imports and exports of major trading partner countries has increased, especially for the United States, Russia, Canada and the United Kingdom.

In fact, in recent years, the import and export of foreign trade in Xinjiang has been declining due to the decline in international energy prices, the devaluation of Central Asian countries and the slowing down of economic growth.

To promote the stability of foreign trade, the State Council issued a number of policy documents supporting foreign trade since last year, involving steady growth, structural adjustment, cross-border electricity providers and so on.

Since this year, Xinjiang has also introduced measures to encourage overseas investment and reduce pportation costs in light of its own foreign trade situation, so as to stimulate the endogenous driving force in the foreign trade industry and promote the rebound in foreign trade.

According to industry analysis, the main reason for the rapid growth of trade is the introduction of favorable policies by the state and autonomous regions. Through the construction of multimodal pport system, the support of special regional supervision of customs, the expansion of new trade formats, the opening of agricultural products at some ports (12.270, 0.14, 1.15%), the rapid clearance of the "green channel" and the establishment of a cross border e-commerce development platform in Xinjiang, the internal driving force for the development of Xinjiang's foreign trade industry has been stimulated, and the steady growth of foreign trade has been promoted.

Duan Xiufang, Dean of the school of international economics and trade of Xinjiang University Of Finance and Economics, said that with the implementation of the "one belt and one way" strategy and the construction of the Sino Pakistani economic corridor, Central Asian and South Asian countries will share more dividends in the "one belt and one way", accelerate their domestic infrastructure construction and clean energy utilization, and achieve rapid economic development, which will also lead to sustained growth in Xinjiang's foreign trade.