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Xizang Autonomous Region

Xizang Autonomous Region’s Foreign Trade Surges by 138.3% in 2023

Beijing, January 20, 2024, The Europe Today: In 2023, Southwest China’s Xizang Autonomous Region witnessed an exceptional surge in foreign trade, with goods reaching nearly 10.98 billion yuan (approximately 1.54 billion U.S. dollars), marking a remarkable year-on-year growth of 138.3%. This growth signifies the region’s expanding economic ties on the global stage.

Xizang engaged in trade with 175 countries and regions during the past year, showcasing its commitment to international commerce. Notably, Nepal emerged as the largest trading partner, with imports and exports reaching around 2.77 billion yuan, reflecting a substantial 77.2% year-on-year increase, according to customs data from Lhasa, the regional capital.

The region’s dynamic trade landscape was further highlighted by a 59.5% year-on-year expansion in exports of mechanical and electrical products. Additionally, Xizang demonstrated robust growth in the import of high-tech products and bulk commodities, reinforcing its position in diverse sectors of the global market.