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Shenzhen’s foreign trade reaches ¥1.34 trillion in H1

2020-July-24       Source: Szdaily.com

Shenzhen’s imports and exports reached 1.34 trillion yuan (US$191.35 billion) in the first half of the year, statistics from Shenzhen Customs showed.

Shenzhen’s imports and exports reached 1.34 trillion yuan (US$191.35 billion) in the first half of the year, statistics from Shenzhen Customs showed.

The exports stood at 715 billion yuan, ranking first among Chinese cities, and imports reached 620 billion yuan, an increase of 6.5 percent year-on-year.

In the first quarter, both imports and exports slumped due to the impact of COVID-19. Starting from the second quarter, trade picked up growth thanks to the epidemic being brought under control in China, production resumption and consumption recovery.

Stimulated by the exports of anti-pandemic materials, imports and exports in the second quarter reversed the downward negative growth of 11.6 percent in the first quarter to a positive growth of 9.9 percent in the second quarter. In June, imports and exports reached 255.1 billion yuan, an increase of 8.9 percent.

General trade increased by 3 percent to 679.5 billion yuan, accounting for 50.9 percent of the city’s total trade value.

The city’s foreign trade showed strong resilience, kept strong momentum with ASEAN countries, and increased by 15.5 percentage points to 21.5 percent in the second quarter compared with the first quarter. Trade with the EU, U.K. and Mexico in the second quarter also increased by 20 percent.

Trade with ASEAN rose by 14 percent to 211.1 billion yuan in the first half of the year, while E.U. trade increased by 2.4 percent to 127.1 billion yuan.

The export of mechanical and electrical products reached 535.6 billion yuan, taking up 74.6 percent of the city’s total exports. The export of labor-intensive products increased by 20.6 percent to 106.2 billion yuan.

The import of agriculture produce grew by 34 percent to 45.4 billion yuan, with fresh fruits, dry fruits and nuts rising 38.4 percent.

Editor: Hannah

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