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In 2020 the total import and export of services in Hainan Province, China amounted to 12.833 billion yuan

In the first three quarters of 2020, the total volume of imports and exports of services in Hainan, China amounted to 12.833 billion yuan, in September, the volume of imports and exports of services in the province increased significantly over the previous year. In the first three quarters, our province's service exports totaled 3.575 billion yuan and imports 9.258 billion yuan, up 14.16% over the previous year.

 

Seven sectors of emerging trade in services (insurance services, financial services, telecommunications and computer information services, business services, cultural and entertainment services, maintenance and repair services, and payment for use intellectual property) have achieved positive growth. Imports and exports of new services increased 76.46% year on year, up 34.26 percentage points from January to August. Trade in services from developing countries accounted for 52.30% of the total, much higher than the 24.48% in the same period last year. Payments for commercial services and the use of intellectual property have surpassed tourism services, becoming the second and third sector of service trade in the province's service trade after transportation services.

 

In September, the province's imports and exports of services totaled 2.493 billion yuan, up 31.43% over the same period last year and up 137.65% over August. Including imports amounted to 2.009 billion yuan, up 101.89% from a year earlier. Commercial services, computer services and the use of intellectual property rights associated with audiovisual products have rapidly expanded to become the main support points for trade in services. Among them, transactions with intellectual property with monthly import and export of 1.213 billion yuan.

 

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