Guangdong's Foreign Trade Hits 7.8 Trillion Yuan in Jan-Oct, Up 3.7 percent

GUANGZHOU, November 12 (China News Service) – By Xu Qingqing)

According to official data released on November 12 by the Guangdong Sub-Administration of the General Administration of Customs, Guangdong posted 7.8 trillion yuan (RMB) in foreign trade from January to October, a year-on-year rise of 3.7 percent. Notably, exports edged up 1.7 percent year-on-year to 4.98 trillion yuan, while imports saw a stronger growth of 7.5 percent, reaching 2.82 trillion yuan.

The Association of Southeast Asian Nations (ASEAN) consolidated its position as Guangdong's largest trading partner in the first ten months, as its import and export value rose 5.2 percent year-on-year to 1.26 trillion yuan, accounting for 16.2 percent of the provincial total. Hong Kong Special Administrative Region (SAR) of the People's Republic of China and the European Union ranked second and third, respectively. The period also saw robust growth across key emerging markets. While trade with the Middle East and Africa expanded, transactions with the five Central Asian countries surged 24.9 percent year-on-year.

Regarding business entity, foreign-invested enterprises saw a rebound in their share of Guangdong’s total trade during the January-October period. Private enterprises posted import and export value of 4.98 trillion yuan, a year-on-year increase of 3.8 percent, accounting for 63.8 percent of the provincial total. Meanwhile, foreign-invested enterprises reported 2.49 trillion yuan in trade, up 6.3 percent year-on-year, with their share climbing 0.8 percentage points from a year earlier to 31.9 percent.

Analyzing export categories, machinery and electronic products, constituting 68.4 percent of Guangdong's export portfolio, saw their export value grow 6.7 percent to 3.41 trillion yuan. This segment was driven by double-digit growth in key items such as electronic components, computers and components, and electrical equipment. High-growth sectors also stood out, with exports of 3D printers, unmanned aerial vehicles, and the "new three" (namely electric vehicles, lithium batteries, and photovoltaic products) rising 18.4 percent, 40.3 percent, and 32.6 percent, respectively.

Turning to imports, the integrated circuits in the province led with a 14.6 percent increase to 1.05 trillion yuan, followed by computers and components (up 21.2 percent to 287.05 billion yuan) and semiconductor manufacturing equipment (up 48.4 percent to 64.77 billion yuan).Additionally, imports of essential consumer goods, including grain, aquatic products, dairy, and edible oil, all recorded double-digit growth in Guangdong during the period.