Guangdong's foreign trade rises slightly in first five months

GUANGZHOU - Foreign trade in South China's Guangdong province recorded a total of 2.71 trillion yuan ($393.9 billion) in the first five months of the year, up 1.4 percent year-on-year, customs authorities said Monday.

The foreign trade volume of Guangdong from January to May accounted for 22.4 percent of the total foreign trade volume of the country, according to the Guangdong branch of the General Administration of Customs.

The structure of foreign trade has been optimized. From January to May, Guangdong's general trade imports and exports totaled 1.37 trillion yuan, up 5.4 percent year-on-year, accounting for more than half of Guangdong's foreign trade volume.

The processing trade fell 5.8 percent. The cross-border e-commerce trade totaled 34.5 billion yuan, up 73.2 percent year-on-year.

More private enterprises contributed to the province's foreign trade volume. During the period, Guangdong private enterprises' imports and exports totaled 1.37 trillion yuan, up 5.8 percent, which accounted for 50.5 percent of the total.

Guangdong's trade with ASEAN countries reached 360.58 billion yuan, an increase of 3 percent. Guangdong's trade with the EU saw a significant increase of 15.7 percent in the first five months.

Its trade with countries along the Belt and Road totaled 629.94 billion yuan, marking an increase of 3.9 percent.

Guangdong's exports of mechanical, electrical and labor-intensive products are on the rise. The imports of consumer goods in the province increased significantly, up 22.3 percent from the previous year.

Guangdong is a leading foreign trade player in the country, with its imports and exports topping 7.16 trillion yuan last year, a historic high ranking first in the country for the 33rd year in a row.