Hainan's external trade up 16.1% in Jan-May

Hainan's total external trade (export and import) for Jan-May this year amounted to US$1.59 billion, representing a 16.1% growth over the corresponding period last year, according to statistics released by local customs.

Hainan's imports and exports in the first five months reached US$1 billion and US$590 million, up 17.9% and 13.3% respectively (a trade deficit of US$410 million), according to figures of the statement.

According to the data, airplanes have become the largest import item. The coastal province imported airplanes and relevant components worth US$420 million in the first five months. However, fuel imports fell to US$190 million, down 29% from last year. The third largest import item, medicines, experienced a sharp increase of 89.7%, amounting to US$80.26 million.

Sea food and byproducts topped the list of exports, which went up 21.9% to US$130 million.

Chinese state-owned enterprises' external trade volume experienced an obvious downslide. Overseas traders are in leading positions, sources said.

Reports said Hainan's external trade markets are closely comparable with those of other provinces. The E.U. is Hainan's largest external trade partner, according to industry sources.