Overview In February 2023 Hubei Province exported $3.94B and imported $2.22B, resulting in a positive trade balance of $1.72B. Between February 2022 and February 2023 the exports of Hubei Province have increased by $435M (12.4%) from $3.5B to $3.94B, while imports increased by $315M (16.6%) from $1.9B to $2.22B.
Trade In February 2023, the top exports of Hubei Province were Telephones ($320M), Cars ($128M), Integrated Circuits ($113M), Hot-Rolled Iron ($99.7M), and Coated Flat-Rolled Iron ($99.5M). In February 2023 the top imports of Hubei Province were Machines and apparatus of a kind... ($386M), Copper Ore ($284M), Integrated Circuits ($202M), Crude Petroleum ($174M), and Iron Ore ($124M).
Destinations In February 2023, Hubei Province exported mostly to Hong Kong ($415M), United States ($393M), Vietnam ($274M), South Korea ($180M), and India ($167M), and imported mostly from Japan ($418M), United Arab Emirates ($178M), Taiwan ($166M), South Korea ($128M), and Peru ($115M).
Growth In February 2023, the increase in Hubei Province's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($253M or 67.1%), South Korea ($62.3M or 41.9%), and United States ($58.8M or 10.9%), and product exports increase in Telephones ($210M or 56.4%), Integrated Circuits ($122M or 138%), and Coated Flat-Rolled Iron ($84.5M or 821%). In February 2023, the increase in Hubei Province's year-by-year imports was explained primarily by an increase in imports from South Korea ($135M or 70.1%), Taiwan ($117M or 36.6%), and China ($106M or 80.3%), and product imports increase in Integrated Circuits ($326M or 80.2%), Copper Ore ($157M or 368%), and Raw Copper ($26.1M or 14.1k%).