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Guangdong imports fuel economic recovery

Updated: Apr 18, 2023 By ZHENG CAIXIONG in Guangzhou Print
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Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. [Photo provided to]

Strong domestic demand and consumption in Guangdong have helped the province import a great deal of bulk commodities, including coal, crude oil and iron ore, in the first quarter of the year.

According to statistics released by Guangdong Customs on Tuesday, Guangdong's imports of coal, crude oil and iron ore increased year-on-year by 41.1, 0.4 and 34.9 percent respectively.

Guangdong's imports of gems and semi-finished precious stones and jewelries also greatly increased, by 72.2 percent and 2.9 times year-on-year, while imports of meats, aquatic products and dairy products increased by 33.5, 23.7 and 20.1 percent year-on-year, a statement from Guangdong Customs said.

Guangdong's vehicle imports also grew by 25.1 percent year-on-year in the first quarter.

The province's imports have helped it achieve an import and export volume of more than 1.84 trillion yuan ($280.49 billion) between January and March, a record high.

Despite a foreign trade reduction with the United States of 6.6 percent year-on-year, Guangdong's foreign trade volume with members of the Association of Southeast Asian Nations hit 313.7 billion yuan in the first three months, up year-on-year by 10.6 percent.

Guangdong's foreign trade volume annually represents more than 20 percent of China's total.

The province's foreign trade volume with nations and regions related to the Belt and Road Initiative increased year-on-year by 10.9 percent, accounting for 29.4 percent of the province's total foreign trade volume in the first three months.

Commodities with high technology, high added value and products leading the green transformation have become new driving forces for the growth of Guangdong's foreign trade since the beginning of the year.

Exports of electric passenger vehicles, lithium batteries and solar cells increased by 10.5 times, 50.5 percent and 1.2 times respectively from January to March.

Guangdong's exports of dried and fresh fruits and vegetables, characteristic goods, increased by 58.4 percent and 47.6 respectively in the first quarter.

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