Guangdong foreign trade exceeds 5 trillion in first nine months
2013-October-22 Source:
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In the first three quarters this year, Guangdong’s foreign trade reached 5.08 trillion RMB 814.5 billion USD or 26.6 percent of China’s import and export, with an annual increase of 13.8 percent after the exchange rate factor.

Guangdong’s export in the first nine months this year went up 12.3 percent year on year to 2.92 trillion RMB (468.36 billion USD), 4.3 percent faster than national average export growth pace. Meanwhile, the province’s import climbed 15.9 percent to 2.16 billion RMB (346.14 billion USD), 8.6 percent over national average import growth pace. The province contributed 29 percent and 23.9 percent of the national import and export respectively.

In the first three quarters, the import and export of Guangdong’s processing trade added up to 387.35 billion USD, down 0.2 percent year on year, due to the sharp drop in September. The sector’s export decreased 0.5 percent to 236.29 billion USD and its import went up 0.3 percent to 151.06 billion USD.

Meanwhile, the province’s general trade saw import and export up 8.5 percent to 264.74 billion USD. Among which, export went up 7.7 percent to 151.66 billion USD and import went up 9.5 percent to 113.07 billion USD.

The foreign funded companies in the province saw their foreign trade up 4.2 percent to 433.24 billion USD year on year. They took up 53.2 percent of the province’s total foreign trade, with the share down 4.9 percent year on year. Meanwhile, private enterprises’ foreign trade slowed down its rocket-up expansion pace but still booked an astonishing 45 percent increase. SOE and collective enterprises saw their foreign trade down 4.6 percent and 11.1 percent to 66.74 billion USD and 13.62 billion USD respectively.

Guangdong’s export to Hong Kong, Taiwan and Korea experienced 29.5 percent, 14.1 percent and 17.8 percent year on year growths. The province’s export to U.S. went up only 0.4 percent, while its import from U.S. rocketed up 48.7 percent. The import from Taiwan, Korea and ASEAN climbed 48.5 percent, 20.3 percent and 9.9 percent. Guangdong’s trade with EU and Japan went further down by 1.5 percent and 8.3 percent. The province’s trade with emerging markets slowed down its expansion. Its trade with Africa and Middle East went up 3.5 percent and 7.9 percent while its trade with Latin America dropped 3.3 percent. Among the BRICS countries, the province’s trade with Africa and Brazil went up 2.9 percent and 3.9 percent while its trade with India and Russia went down 1.5 percent and 3.4 percent.

The export of machinery and electric products and hi-tech products (overlapped with each other) went up 17 percent and 25.3 percent to 325.64 billion USD and 193.06 billion USD respectively. Meanwhile, garments and accessories, furniture, shoes, textiles, plastic products, toys, suitcases and agricultural products all booked increases. (by Wing)

Editor: Olivia
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