Foreign Trade With The U.S. Fell By 6% In The First Ten Months
The Guangdong Branch of the General Administration of Customs released data on the province's foreign trade from January to October this year. From January to October, Guangdong's imports and exports to the United States amounted to 670.99 billion yuan (RMB, the same below), a year-on-year decrease of 6%. In the same period, Guangdong's 722.58 billion yuan to the European Union, an increase of 10.9% year-on-year, and the decline with the United States formed a trend of mutual elimination. According to the statistics of the Guangdong Branch of the General Administration of Customs, from January to October 2019, Guangdong's foreign trade import and export volume was 5.76 trillion yuan, a decrease of 2% compared with the same period last year, and the trade surplus was 1.24 trillion yuan, an increase of nearly 20% year-on-year. The vitality of private enterprises' foreign trade has been increasing. During the same period, the import and export of private enterprises reached 2.94 trillion yuan, accounting for 51%. The leading role of general trade continued to strengthen. During the same period, Guangdong ’s general trade imports and exports amounted to 2.84 trillion yuan, accounting for 49% of the total foreign trade value, an increase of 2.3 percentage points compared with the same period last year. In terms of exports, Guangdong's exports of mechanical and electrical products increased, while labor-intensive products fell slightly. From January to October, Guangdong exported 2.41 trillion yuan of mechanical and electrical products, an increase of 0.8% year-on-year, accounting for nearly 70% of the total export value. The export of labor-intensive products was 601.1 billion yuan, a year-on-year decrease of 1.4%. In terms of imports, mechanical and electrical products imported by Guangdong declined during the same period, and consumer goods increased. From January to October, Guangdong imported 1.54 trillion yuan of mechanical and electrical products, a year-on-year decrease of 7.9%, accounting for 68% of the total import value. Imported consumer goods were 177.48 billion yuan, an increase of 18.2% year-on-year, and pork imports were 4.2 billion yuan, an increase of 42% year-on-year.