Foreign trade tops $1.5 bln in Guizhou

Southwest China's Guizhou provincereported 1.5 billion US dollars of foreign trade in 2004, up 53.8 percent year-on-year.

According to the provincial commercial department, exports of the province topped 867 million US dollars in 2004, up 47.4 percent year-on-year, or 12 percentage points higher than the national average.

While imports topped 647 million US dollars, up 63.3 percent, or 27.3 percentage points higher than the national average.

The foreign trade growth in the province has displayed two outstanding characteristics, said the department source.

The province witnessed sharp increases in imports and exports through processing trade which topped 410 million US dollars in 2004, up 134.3 percent over the previous year, or 80.5 percentage points higher than provincial average.

Also imports and exports through processing trade accounted for27.4 percent of the province's total foreign trade in 2004, in comparison with 18 percent in 2003 and 14.5 percent in 2002.

Secondly, collective and private enterprises have become a driving force in boosting the province's foreign trade growth.

In 2004, foreign trade by collective and private enterprises topped 105.2 million US dollars and 102.76 million US dollars, up 99.3 percent and 254.6 percent year-on-year.

Source: Xinhua