Guangxi's trade with B&R countries grows in 2018

Statistics from Nanning Customs showed that trade between Guangxi and countries along the Belt and Road rose 4.6 percent year-on-year to 224.44 billion yuan ($33.56 billion) in 2018.

The export value increased by 14.4 percent to 136.35 billion yuan, while the import value decreased by 7.6 percent to 88.09 billion yuan.

Private enterprises, whose foreign trade value increased by 22.6 percent to 141.42 yuan, were the biggest contributors to the region's foreign trade. Foreign-funded enterprises followed, with an import-export value of 15.98 billion yuan.

Guangxi merchants pack garlic to be sold to Vietnam. [Photo by Zhang Ailin/Xinhua]

Most exports and imports were in the petty border trade category, which grew by 22.2 percent to 107.62 billion yuan.

ASEAN countries were Guangxi's major trade partners. Among them, Vietnam recorded the highest trade value (174.94 billion yuan), followed by Thailand and Malaysia at 9.14 billion yuan and 7.02 billion yuan, respectively.

Labor-intensive products, electromechanical products, and hi-tech products were Guangxi's major exports to B&R countries, while electromechanical products, agricultural products, and hi-tech products topped the import list.

Guangxi merchants load up frozen seafood to be sold to Vietnam. [Photo by Zhang Ailin/Xinhua]