Guangdong’s import of bulk commodities, including coal, crude oil and iron ore, witnessed a rapid growth while export of the products with high technology, high added value and leading the green transformation has become a new growth engine for the province’s exports in the first two months.
According to a statement released by Guangdong Customs over the weekend, Guangdong’s import of coal, crude oil and iron ore increased 32.7 percent, 15.6 percent and 10.5 percent year-on-year respectively in January and February.
Meanwhile the province’s import of grain and dairy products also saw growth of 10.9 percent and 12.2 percent year-on-year in the two months ending in Feb, said the statement.
Guangdong’s exports of electric passenger cars, lithium batteries and solar cells grew 15.4 times, 39.3 percent and 93.7 percent respectively from January and February, said the statement.
The big growth of bulk commodity imports and export of the products with high technology and high added value have helped Guangdong’s foreign trade achieve a stable and positive growth trend since the beginning of the year, the statement said.
The southern province which has been the country’s biggest foreign trader for decades reached a foreign trade volume of more than 499.54 billion yuan ($74.56 billion) in February, up year-on-year by 4 percent. The province’s exports came to 299.87 billion yuan last month, up year-on-year by 1.5 percent while its imports grew 7.9 percent year-on-year to hit 199.67 billion in February.
Guangdong’s import and export volume achieved 587.74 billion yuan in January, a year-on-year reduction of 22.7 percent.
Guangdong’s foreign trade with of Latin American nations maintained a continuous growth this year when Guangdong companies have actively been exploring the emerging markets, said the statement.
In the first two months, Guangdong’s import and export with Brazil and Chile increased by 24.8 percent and 14.4 percent, respectively, it said.
With the domestic economy continuing to recover, the recovery of overseas consumption markets and implementation of major project construction , Guangdong’s imports and exports would continue to enjoy sustainable growth in the months to come, contributing to the country’s foreign trade industrial development, it said.