According to data released by Urumqi Customs, there has been a significant surge in the number of vehicles exported from Xinjiang's ports to Central Asian countries this year. From January to November, a total of 20,563 motor vehicles were shipped out through Xinjiang's various ports, with an export value reaching $507 million. This represents a remarkable increase of 2.2 times in volume and 3.1 times in value compared to the same period last year.
Urumqi Customs highlighted that this year's auto exports from Xinjiang ports exhibit three major trends. First, the market share has expanded significantly. The majority of vehicles are being sent to Central Asian nations, as well as Russia, Ukraine, and other neighboring countries. Specifically, trade with the five Central Asian countries reached $420 million, marking a 2.8-fold increase year-on-year.
Second, both general trade and border trade in small-scale vehicles have seen substantial growth. Third, private enterprises have taken the lead in automotive exports. From January to November, private companies accounted for $347 million worth of auto exports, showcasing their growing influence in the sector.
Experts suggest that the rapid growth in vehicle exports is driven by several factors. Neighboring countries are experiencing strong economic development, with expanding infrastructure projects increasing the demand for automobiles. Additionally, many of these countries are upgrading their public transportation systems, creating more opportunities for Chinese vehicle exports. Moreover, Chinese vehicles are known for their favorable price-to-performance ratio, giving them a competitive edge in regional markets.
Jiangsu Huayu Electric Co., Ltd , https://www.huayutransformer.com