Yiwu lies at the center of Zhejiang Province. The economic extraversion of Yiwu has allowed the city to become one of the main bases in China for commodities production, export and foreign purchase. The city's export trade is developing rapidly and product diversification expands each quarter.

In 2004, Yiwu ranked number one among the most favored county-level cities in Zhejiang Province and took the lead in modernization. The city now enjoys prefecture-level economic management jurisdiction and has also been awarded the honor of being the key district in the drive for urbanization. The city has won a number of titles including: National Sanitation City, National Sci-tech Advanced City, National Sports Advanced City, National Culturally Advanced City, Provincial Civilized City and Provincial Power City in Education.

Yiwu's Small Commodities Market has attracted merchants from all over China. At present, it has a total operational area of 2.60 million square meters with an annual transaction value of 40 billion RMB, ranking number one among all of China's trade distribution markets for 8 consecutive years. In 2004, Yiwu won the title "Most Favored Chinese City for Citizens". It has indeed become a modern, international trade and commercial city with increasing influence both at home and abroad. 

In 2006, Yiwu's GDP was 35.20 billion RMB, up by 15% from the previous year. The GDP per capita was 50,148 RMB, equal to US$6,300 and one of the highest rates in China. The city's investment in fixed assets was 13.32 billion RMB.


Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries, represented 2.7% of GDP; the economic contribution ratio of the secondary and value-added industries and construction represented 46.1%; while the economic contribution ratio of the tertiary sector represented 51.2%.

Composition of GDP (%)
 

Foreign Trade Overview
There are general agencies for over 4,000 famous enterprises gathered in the Yiwu market and more than 170 commercial representative offices from more than 30 countries such as the U.S.A., Japan, Sweden and Korea. At present, commodities from Yiwu are exported to all five continents including 187 odd countries and regions. By the end of 2006, 35 Yiwu enterprises had established 46 branches in 16 nations.

In 2006, Yiwu had direct trade and economic exchanges with 178 nations and regions. It completed an import and export volume of US$1.5 billion in 2006 including US$1.35 billion in exports and US$150 million in imports. The number of its foreign trade enterprises increased to 916 in 2006 including 597 in the import and export field.

Yiwu commodities are mainly exported to Asia with 42 nations and regions as destinations and an export value of US$422.61 million. The top ten export nations for Yiwu products are the USA, the United Arab Emirates, Russia, Ukraine, South Korea, Germany, Spain, Britain, Panama and Brazil.

Foreign Trade and Cultural Ties
In 2006, Yiwu achieved new milestones in foreign exchange and economic cooperation. In 2006, over 200 groups of foreign governmental delegations investigated the Yiwu marketplace. The city has established a sister city relationship with Seoul, South Korea and built friendly city relationships with the Yangpu District of Shanghai, Sanya, Shuyang County of Jiangsu and Suifenhe County of Heilongjiang.