Tibet logs healthy foreign trade figures

The Tibet autonomous region reported year-on-year growth of 10 percent in foreign trade in the first three months of this year, with its total import and export value at about 1.13 billion yuan ($177 million), China News Service reported.

Customs data from the regional capital, Lhasa, shows that during this period total exports exceeded 1 billion yuan, with a trade surplus of over 1 billion yuan.

The region conducted trade with 86 countries and regions around the world during the period.

Tibet's trade volume with Nepal hit 399 million yuan in the first quarter, accounting for 13 percent of China's total trade with the country in the period.

The region had 86 trading partners around the world in the period, including Nepal and the The Democratic Republic of the Congo.

Private enterprises played a significant role in the region's foreign trade in the first quarter, with total import and export value reaching over 1.1 billion yuan — more than 97 percent of the region's total foreign trade.

Tseten, general manager of Tibet Pangyen Medo Industrial and Trading Co, a Tibetan-rug business, said the export value of his company reached 15 million yuan last year, accounting for about 10 percent of his total sales.

"We export sheep's wool to Nepal, and our major exporting items are the wool and Tibetan rugs," he said, adding that his main export markets are Nepal, Europe and the United States.

"The COVID-19 pandemic affects us a lot, especially our exports to Nepal. We hope to export more wool to Nepal this year," he said.