Guangdong first half exports rise to 1.8 trillion yuan, imports drop

Business | 23 Jul 2019 4:04 pm

China's economic powerhouse Guangdong province exported goods worth 1.98 trillion yuan in the first half of this year, up by 3.9 percent year-on-year, according to local customs, Xinhua reports.

Guangdong's foreign trade volume reached 3.28 trillion yuan during the same period. Imports, however, dropped by 2.5 percent to 1.3 trillion yuan in the first half. The trade surplus widened by 18.9 percent on-year.

The exports of mechanical and electrical products reached 1.37 trillion yuan, up by 2.8 percent on-year, accounting for more than 69 percent of  exports.

Trade with the European Union and the Association of Southeast Asian Nations grew by 13.3 percent year-on-year to 410.67 billion yuan.

Meanwhile, trade volume with countries along the Belt and Road reached 765.88 billion yuan, up by 5.1 percent year on year.

Private enterprises were the biggest driver. The foreign trade volume of private companies in Guangdong reached 1.66 trillion yuan, up 5.9 percent on-year, contributing over 229 percent to the growth of provincial foreign trade.

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