Guangdong province reports foreign trade growth from Jan-October – Xinhua

Workers operate on the production line of electric water heaters at a company in Foshan, south China’s Guangdong Province, Sept. 30, 2022. (Xinhua/Huang Guobao)

GUANGZHOU, Nov. 18 (Xinhua) — Guangdong Province, a manufacturing hub and major foreign trade player in China, recorded foreign trade totaling 6.83 trillion yuan (about 966.7 billion U.S. dollars) over the past 10 first months of the year, up 1.9 percent year-on-year, according to the province’s customs authorities.

Guangdong’s exports rose 6.8 percent year on year to 4.39 trillion yuan, while imports fell 5.9 percent to 2.44 trillion yuan.

The Association of Southeast Asian Nations (ASEAN) continues to be Guangdong’s biggest trading partner. From January to October, the province’s ASEAN imports and exports amounted to 1.1 trillion yuan, up 10%.

During the period, Guangdong’s trade with the United States and the European Union grew 8.6 percent and 8.2 percent year-on-year, respectively.

In the first 10 months of the year, its exports of mechanical and electrical products increased by 3.6%, accounting for 66.6% of the province’s total export value. Solar cell exports increased by 37.1%, lithium-ion battery exports increased by 47.8%, and manned electric vehicle exports almost tripled.

Guangdong’s imports of agricultural products increased by 12.6%, with grain imports increasing by 27% and aquatic products imports by 44.2%.

Joan J. Holland