Tibet has seen a boom in its consumer markets and exports in recent years, according to the latest statistics provided by the commercial department of the autonomous region.

The daily consumption stands at 19.5 million yuan (2.4 million US dollars) on the average in Tibet and the total sales for social consumer goods are expected to reach 7.1 billion yuan (876.5 million US dollars) this year.

The consumption boom is due to the increased household income, said Tan Yungao, head with the commercial department.

The urban residents' disposable income is promising to realize 8,200 yuan (1012 US dollars) this year, 27.17 percent up over 2000. It ranks fourth among the 12 provinces or autonomous regions in the west China region. Farmers and herdsmen's income hopefully exceeds 2,000 yuan (247 US dollars) this year.

In addition, Tibet's daily imports and exports are 438,000 US dollars and 110,000 US dollars, respectively. Tibet is expected to realize 160 million US dollars in imports and 400 million US dollars in exports this year. More than 70 countries have been in business contact with Tibet.

In the first three quarters of this year, another 13 foreign-funded projects were approved for operation, which increased the number of foreign ventures to 173 in Tibet.

Currently, 17 countries or regions have invested in many industries in Tibet, including manufacturing, tourism, transportation and real estate, with an actual use of 75.4 million US dollars in foreign funds.

Source: Xinhua