Guangdong's imports and exports surge in July

South China's Guangdong province achieved a foreign trade volume of more than 800 billion yuan ($111.4 billion) in July, up year-on-year by 15.5 percent, Guangdong Customs statistics revealed on Monday.

Guangdong, the country's biggest foreign trader, recorded double-digit growth in exports for the fourth month in a row, indicating a strong economic rebound and high domestic demand in the province, a globally important production base, said a statement released by Guangdong Customs.

In July, Guangdong sold 519.57 billion yuan worth of products abroad, up 16.5 percent year-on-year, while it purchased goods valued at 280.46 billion yuan from the rest of the world, up 13.8 percent year-on-year, the statement said.

Last month's excellent foreign trade performance bodes well for Guangdong, which relies heavily on its foreign trade development for overall sustainable economic growth.

Through the first seven months of the year, Guangdong achieved an export and import volume of more than 5.17 trillion yuan, up 13.9 percent year-on-year and 7.7 points higher than the country's average. The province's exports increased 12.6 percent year-on-year to hit 3.36 trillion yuan, while its imports reached 1.81 trillion yuan, up 16.5 percent year-on-year.

According to the statement, Guangdong's foreign trade volume represented 20.8 percent of the country's total between January and July.

While maintaining its resilience in traditional markets, Guangdong's foreign trade continues to increase in emerging markets since the beginning of the year, the statement said.

Guangdong's imports and exports to traditional markets, including the Hong Kong Special Administrative Region, the United States, the European Union, Japan and South Korea, all achieved positive growth.

At the same time, imports and exports to emerging markets such as the ASEAN, Latin America, 17 Middle East countries and five Central Asian nations increased by 13 percent, 20.8 percent, 16.1 percent, and 31.1 percent year-on-year, respectively, in the seven months ending July.