Guigang's foreign trade grows rapidly in first five months of 2019

According to customs statistics of Guigang, Guangxi Zhuang autonomous region, the total foreign trade value of Guigang reached 1.26 billion yuan ($183.73 million) from January to May of this year, a year-on-year increase of 26.8 percent.

Among them, exports amounted to 5.7 billion yuan, up 36 percent year-on-year. Imports amounted to 686.86 million yuan, up 20 percent year-on-year.

Private sector enterprises have achieved their first growth this year. The import and export of private sector enterprises in Guigang was 7.78 billion yuan in the first five months, a year-on-year increase of 12.4 percent, which accounted for 61.6 percent of the total foreign trade value. The import and export of foreign-invested enterprises was 4.81 billion yuan, a year-on-year increase of 58.3 percent, accounting for 38.1 percent of the total value.

Processing trade has grown substantially. In the first five months of the year, general trade in Guigang was 5.99 billion yuan, accounting for 47.4 percent of the total foreign trade value of the city. The import and export of processing trade reached 4.53 billion yuan, up 59.7 percent year-on-year, accounting for 35.8 percent of the total. The import and export of bonded goods reached 2.08 billion yuan, a year-on-year increase of 1.49 times, accounting for 16.4 percent of the city's total import and export value.

From January to May, Guigang's mechanical and electrical products, shoes, Christmas articles, as well as sporting goods and equipment generated an export value of 1.41 billion yuan, 1.33 billion yuan, 0.7 billion yuan, and 0.53 billion yuan respectively, increasing by 97.5 percent, 62.1 percent, 1.07 times, and 5.98 times. The total exports of the above four major commodities totaled 3.97 billion yuan, accounting for 69 percent of the city's total export value.

The four major imported commodities are iron ore and its concentrates, agricultural products, coal and lignite, as well as electromechanical products. In the first five months, the total import value of the above four major commodities in Guigang was 594.2 million yuan, accounting for 86.4 percent of the total import value.

The largest export trading partners were the United States, Singapore, Malaysia, and Germany. In the first five months, Guigang exported a total of 337.79 billion yuan to the four countries, accounting for 58.7 percent of the city's total export value. The largest import trading partners were Australia, Indonesia, Brazil, and South Africa. In the first five months, Guigang imported a total of 374.34 million yuan from the above four countries, accounting for 54.4 percent of the city's total import value.