Tibet Region-Foreign Trade Up 86.5% to CNY 2.96bln in Jan-May 2017

According to Lhasa Customs statistics, during January-May this year, Tibet Autonomous Region’s foreign trade value totaled CNY 2.96 billion, largely up 86.5% year-on-year (YOY). Therein, export value was 1.09 billion yuan, up 2.1%; import value was 1.87 billion yuan, an increase of 2.6 times, with aircraft import as a strong drive; the trade deficit reached 780 million yuan, however.

Characteristics of Tibet-Foreign Trade in Jan-May:

(1) February and April saw rapid export-import growth.
In January, Tibet’s export-import value was 430 million yuan, up 46.7% YOY; February’s value was 840 million yuan, an increase of 27.7 times YOY; in March, due to port road collapse, the export-import value dropped by 43.1% YOY to 280 million yuan; in April, the value reached 920 million yuan, up 2.09 times YOY; May’s value was 490 million yuan, up 2.7% YOY.

(2) Ordinary trade accounted for nearly 70% at strong growth.
Over the five months, the export-import value by ordinary trade mode totaled 2.06 billion yuan, up 2.8 times YOY, accounting for 69.6% of the gross trade value; petty frontier trade value reached 880 million yuan, down 14.7% YOY; other free exports and imports were worth 7 million yuan, up 1.7 times YOY; border fair trade value was 4 million yuan, down 35.7% YOY.

(3) France was the biggest trade partner.
Over the five months, Tibet trade with France reached 1.18 billion yuan, accounting for 39.9% of the gross trade value, up 2.9 times YOY, making France the biggest trade partner; trade with Nepal reached 904 million yuan, down 14.7% YOY; trade with Belgium reached 281 million yuan, up 39.6 times YOY.

(4) Lhasa City was dominant in foreign trade.
Over the five months, Lhasa City’s export-import value reached 2.341 billion yuan, up 64.3% YOY, accounting for 79.1% of Tibet’s total; Nagqu Prefecture took the second place; Xigaze City had a substantial decline in foreign trade.

List of Foreign Trade Value by City/Prefecture in Jan-May:

Causes of the Trade Characteristics:

(1) China’s “One Belt and One Road” initiative and Bangladesh-China-India-Myanmar Economic Corridor construction boosted the Regional trade with neighbor countries.
(2) China’s “13th five-year plan” provides more preferential policies for Tibet economic development.
(3) The regional foreign trade lacks stable supporting measures and business environment.