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            october 20, 2019

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Xinjiang Korgas quarterly trade value down 8.7pc


The northwest Xinjiang Korgas checkpoint posted a 8.75 per cent year-on-year decline in overall import and export trade value to CNY16.77 billion (US$2.68 billion) in the first quarter of the year, reports Xinhua.
Import value was down 6.11 per cent year on year to CNY14.45 billion, while export value dropped 22.37 per cent to CNY2,321 million.
Tariff and non-tariff barriers from China's northern neighbours as well as Kazakhstan's severe financial crisis at the beginning of the year contributed to the sharp decline.
According to Urumqi customs statistics, in the first three months, Xinjiang's total import and export trade value went down 11.5 per cent to CNY29.13 billion, ranking 23 nationwide and six in China's western region.

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