Guangdong marks double-digit export growth

Exports in Guangdong province made a strong recovery in November, reaching double-digit growth, while the decline of imports narrowed, according to a statement released by Guangdong Customs on Tuesday.

Guangdong exports rose 10.7 percent to 35.35 billion yuan last month from the same period in 2019, the statement said.

The province, which has topped the country in foreign trade for decades, had a total two-way trade volume of 681.75 billion yuan ($104.88 billion) in November, up 4.3 percent from the same period in the previous year.

Guangdong's imports were 246.4 billion yuan in November, a reduction of 5.4 percent from the same month last year, it added.

Guangdong's foreign trade volume from the processing industry saw an increase of 2.3 percent in November, ending the negative growth trend of the year.

The positive foreign trade performance in November has helped the province achieve a total volume of 6.36 trillion yuan from January and November, a slight year-on-year reduction of 1 percent, the statement said.

Guangdong sold 3.89 trillion yuan worth of products abroad, a year-on-year reduction of only 0.1 percent, while its import volume hit 2.47 trillion yuan, a year-on-year reduction of 2.4 percent, in the first 11 months this year.

Guangdong's trade with Taiwan saw positive growth from January and November. A growth trend was also seen with ASEAN countries and the United States.

Guangdong's foreign trade volume with ASEAN, the province's largest trading partner, reached 969.16 billion yuan in the first 11 months, up 6.6 percent year-on-year and representing 15.2 percent of the province's total foreign trade volume.

The province's total trade with the United States marked year-on-year growth of 3.4 percent.

Trade with Taiwan grew 9.3 percent in the 11 months ending in November, the statement said.

Guangdong's foreign trade with the European Union and with China's Hong Kong Special Administrative Region saw a reduction of 0.1 percent and 10 percent, respectively, in the first 11 months.

Last month, Guangdong's total foreign trade rose by 6.4 percentage points from October, according to the statement.

The province's exports continued to enjoy a strong rebound while the decline of imports was narrowing, it said.

Guangdong's exports are expected to continue to grow as global demand continues to recover in the months ahead, it said.