Hainan's service exports doubled in Q1-Q3

Source:ehainan.gov.cn

According to the statistics of the Hainan Provincial Department of Commerce, Hainan achieved 23.94 billion yuan ($3.3 billion) in service imports and exports from the first to the third quarter of this year, up 20.53 percent year-on-year. The province's service imports totaled 12.27 billion yuan in that period, while its service exports totaled 11.67 billion yuan, with a year-on-year growth of 100.04 percent.

Since the issuance of the Overall Plan for the Construction of the Hainan Free Trade Port, a number of advantageous policies have been implemented, significantly enhancing Hainan's ability to serve international demand.

In this context, Hainan's service trade has enjoyed strong development, and its contribution to foreign trade growth has gradually increased, according to the relevant person of the Hainan Provincial Department of Commerce.

In the first three quarters of this year, Hainan's new international offshore trade continued to grow, with the related commissions driving the import and export of commercial services to 10 billion yuan, up 4.54 times year-on-year and accounting for 42.09 percent of the province's service trade. The import and export of transportation services reached 7.49 billion yuan, with a year-on-year increase of 42.06 percent and accounting for 31.3 percent of the province's service trade. Tourism services have also gradually recovered, with the import and export of tourism services reached 1.8 billion yuan, up 9.47 percent year-on-year and accounting for 7.5 percent of Hainan's service trade.


Hainan tourism recovers during the National Day holiday. [Photo/IC]

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