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Exports

Guangzhou's Foreign Trade Sets Record High in First Half of the Year

Strategic Insights

— 2 min read

Guangzhou has achieved remarkable growth in its foreign trade in the first half of the year, with total imports and exports totaling 605.05 billion yuan, a year-on-year increase of 15.5%, and setting a record high for the same period in history. This achievement is attributed to the city's vigorous development momentum and solid resilience, as well as the effective driving force of cross-border e-commerce and the utilization of the platform role of Nansha Free Trade Zone. Additionally, the city's private enterprises have played a crucial role in driving foreign trade growth, with their imports and exports totaling 365.35 billion yuan, an increase of 27.9%, accounting for 60.4% of the city's foreign trade.

Key Takeaways:

  • Guangzhou's total foreign trade imports and exports in the first half of the year reached 605.05 billion yuan, a year-on-year increase of 15.5%, setting a record high for the same period in history.
  • The city's exports of mechanical and electrical products increased by 14%, computer integrated manufacturing technology and other exports increased by 51%, and clothing and clothing accessories exports increased by 19%.
  • Guangzhou's cross-border e-commerce has effectively driven the export of traditional advantageous products such as clothing, luggage, and small household appliances.
  • The city has fully utilized the platform role of Nansha Free Trade Zone, 4 comprehensive bonded zones, 2 import trade promotion innovation demonstration zones, and 13 foreign trade transformation and upgrading bases.
  • Private enterprises in Guangzhou played a crucial role in driving foreign trade growth, with their imports and exports totaling 365.35 billion yuan, an increase of 27.9%, accounting for 60.4% of the city's foreign trade.

Statistics:

  • Guangzhou's total foreign trade imports and exports in the first half of the year: 605.05 billion yuan
  • Year-on-year increase of Guangzhou's total foreign trade: 15.5%
  • Increase in Guangzhou's exports of mechanical and electrical products: 14%
  • Increase in Guangzhou's computer integrated manufacturing technology and other exports: 51%
  • Increase in Guangzhou's clothing and clothing accessories exports: 19%
  • Guangzhou's bonded logistics imports and exports in the first half of the year: 56.65 billion yuan
  • Increase in Guangzhou's imports and exports to the EU: 30.5%
  • Increase in Guangzhou's imports and exports to ASEAN: 36.7%
  • Increase in Guangzhou's imports and exports to countries participating in the construction of the "Belt and Road": 26.2%
  • Guangzhou's private enterprises' imports and exports in the first half of the year: 365.35 billion yuan
  • Increase in Guangzhou's private enterprises' imports and exports: 27.9%

Sources:

  • Guangzhou Municipal Bureau of Commerce
  • http://www.gd.gov.cn/gdywdt/dsdt/content/post_4748172.html

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