Guangdong foreign trade hits record 8.72 trillion yuan in first three quarters
Guangdong's foreign trade reached 8.72 trillion yuan in the first three quarters, up 24.5 per cent year on year, with the third quarter surpassing 3 trillion yuan for the first time. Exports of high-tech products rose 33 per cent, and customs officials forecast continued momentum in the fourth quart
Guangdong's foreign trade reached 8.72 trillion yuan in the first three quarters of this year, a year-on-year increase of 24.5 per cent, according to the Guangdong branch of the General Administration of Customs.
The province has recorded year-on-year growth for 13 consecutive quarters. The third quarter marked the first time quarterly trade surpassed 3 trillion yuan, setting a record high. September alone saw imports and exports of 1.18 trillion yuan, also a monthly record.
Trade with Belt and Road Initiative countries grew 18.2 per cent in the first three quarters, while trade with other APEC economies rose 26.4 per cent. Exports to the United States increased 11 per cent, marking six consecutive months of growth since April.
Driven by technological innovation and industrial upgrading, advanced manufacturing products have gradually become the mainstay of exports. High-tech product exports reached 1.1 trillion yuan in the first three quarters, up 33 per cent. Exports of specialised equipment, integrated circuits, computer components, lithium batteries and electric vehicles all posted significant growth.
The customs authority said Guangdong's foreign trade this year has shown stable scale, improved structure and high quality, with sound development momentum. It forecast that the positive trend is expected to continue in the fourth quarter.