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Guangdong's import and exports reached 2.48 trillion yuan in the first five months

2020-June-18       Source: Newsgd.com

According to Guangdong sub-administration of the General Administration of Customs of the People's Republic of China (GACC), the province's import and export volume reached 2.48 trillion yuan from January to May, with a year-on-year decrease of 8.8%. But it has seen a month-on-month growth for three consecutive months, with the foreign trade increasing by 1.3% in May.

According to Guangdong sub-administration of the General Administration of Customs of the People's Republic of China (GACC), the province's import and export volume reached 2.48 trillion yuan from January to May, with a year-on-year decrease of 8.8%. But it has seen a month-on-month growth for three consecutive months, with the foreign trade increasing by 1.3% in May.

(Photo by Nanfang Daily)

In detail, the province's imports reached 1.01 trillion yuan and exports were 1.47 trillion yuan, with a year-on-year decrease of 7.1% and 10%, respectively. The province’s foreign trade volume accounted for 21.5% of the country's total over the same period. Some highlights are shown as follows:

As for procurement and new business models, the province's bonded logistics hit 391.65 billion yuan, with an increase of 6%, and the market procurement export was 107.34 billion yuan, with an increase of 68.7%

Trade of medical supplies also grew rapidly. Guangdong's exports of medical products were 6.56 billion yuan, with an increase of 46%, textile products (including masks) were 48.84 billion yuan, up 2.7 times, and medical devices were 13.45 billion yuan, with an increase of 27.4%.

In addition, the province saw more demand for products of people's life style. Imported consumer goods were 97.06 billion yuan, with an increase of 8.5%, of which meat was 13.73 billion yuan and cosmetics were 8.52 billion yuan, increased 1.1 times and 18.3%, respectively.

Regarding main trading partners, Guangdong's foreign trade with ASEAN countries, Hong Kong, EU countries and the United States reached 381.83 billion yuan, 344.71 billion yuan, 275.72 billion yuan and 256.12 billion yuan, respectively. They saw increases of 5.6% with ASEAN, decrease of 16.4% with HK, a decrease of 6.5% with the EU and a decrease of 17.2% with the United States.

According to Guangdong sub-administration of GACC, the rapid growth of products including medical supplies, mobile phones and laptops helped to stable the province's foreign trade development.

Author: Will

Editor: Jerry

Editor: Will

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