Northwest China's Xinjiang realizes $34.3 billion exports to five Central Asian countries in 2023

Release time：2024-05-22 03:28:51 Source：Global Glossary news portal

Northwest China's Xinjiang Uygur Autonomous Region secured top spot in exports to the five Central Asian countries in 2023, reaching a record-breaking 246.57 billion yuan ($34.3 billion). The result marked substantial year-on-year growth of 23.2 percent.

Xinjiang's total imports and exports with the five Central Asian countries reached 283.67 billion yuan in 2023, surging 50 percent year-on-year. It accounted for 79.4 percent of Xinjiang's overall foreign trade value in 2023, China Media Group (CMG) reported, citing local customs data.

Situated at the core of the Eurasian continent, Xinjiang shares borders with eight neighboring countries, boasting a unique geographical advantage described as "five gateways connecting eight nations, and one route linking Eurasia."

In 2023, Xinjiang region's import and export trade with its top three trading partners saw substantial growth, with a remarkable 70.8 percent increase with Kazakhstan, a 25.8 percent rise with Kyrgyzstan, and an outstanding 93.4 percent surge with Tajikistan.

With the managed opening of highway ports in Xinjiang, imports and exports via road freight to and from the five Central Asian countries have witnessed a significant growth of 52.5 percent. And there has been a notable increase of 44.5 percent in import and export activities through rail transport, local press reported.

Since last year, Xinjiang, leveraging its location advantage, has implemented a series of policies and measures to ensure the stability and quality of foreign trade, constantly improving the structure of trade, CMG reported.

Due to its favorable geographical, policy, and port advantages, Xinjiang has ramped up efforts to promote the development of foreign trade over recent years. Against the backdrop of a sluggish global economic growth and a slowdown in global trade and investment, Xinjiang has delivered a sustained growth, showcasing remarkable progress and frequent highlights in maintaining stability while becoming a more influential trade hub.

Taking Xinjiang's Horgos Port as an example, its major exports in the first 11 months in 2023 included electromechanical products, high-tech products, clothing, and accessories. Notably, the trade volume of exported new-energy passenger vehicles saw eightfold year-on-year growth, representing a remarkable achievement.

In 2023, Xinjiang conducted trade with 192 countries and regions worldwide. Among them, the region saw substantial year-on-year trade growth rate with Malaysia at 187 percent, with South Africa at 88 percent, Qatar at 60 percent, and Algeria at 142.7 percent.

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