Guangdong sees foreign trade hit record high in 2023

Guangdong’s total import and export volume reached a record high of 8.3 trillion RMB in 2023, up 0.3 percent year-on-year, according to the statistics released by the Guangdong Sub-administration of GACC on January 16.

This figure accounted for 19.9 percent of China’s total foreign trade, strengthening the province’s position as the leading foreign trade player in the country, local customs said at the press conference held on the same day.

Last year, Guangdong’s trade with emerging markets continued to grow. Its imports and exports with Belt and Road partner countries grew by 1 percent from the previous year to 3.04 trillion RMB, and that with Latin America and Africa went up 7.5 percent and 3.9 percent respectively.

During the same period, exports of mechanical and electrical products and agricultural produce were strong, increasing by 0.9 percent and 13.3 percent to 3.56 trillion RMB and 130.91 billion RMB respectively.

Specifically, the top products in export remained the same throughout the year, which are electric vehicles, lithium batteries, and solar cells, whose export were up 33.7 percent year-on-year in 2023.

In addition, the province’s trade structure has been improving steadily in 2023. The number of foreign trade enterprises in Guangdong hit a new record, reaching 130,000, with an increase of 9.4 percent over the previous year.

Among them, private enterprises accounted for more than 80 percent, with a total import and export volume of 5.04 trillion RMB, up 6 percent.

Over the past year, local customs have taken various measures to promote foreign trade amid global economic uncertainty. For instance, the ‘single submission’ customs declaration service for Guangdong and Macao cargo has been in effect since mid-December.

Furthermore, the province made great efforts to promote the high-quality development of the three major platforms – Hengqin, Qianhai, Nansha and Hetao last year.

In 2023, the foreign trade volume of the nine Chinese mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area reached 7.95 trillion RMB, accounting for 19 percent of the country’s total foreign trade.

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