According to the latest data released by the Guangdong Sub-administration of GACC, foreign trade imports and exports of Guangdong Province reached 1.35 trillion yuan in the first two months of 2024, representing a year-on-year growth (the same below) of 24.9%. Specifically, the exports amounted to 885.94 billion yuan, an increase of 26.8%, while the imports reached 462.4 billion yuan, up 21.5%.

From a sector-specific perspective, general trade and bonded logistics have seen relatively faster growth. In the first two months, general trade and bonded logistics imports and exports of Guangdong Province reached 820.48 billion yuan and 240.87 billion yuan, respectively, up 34.9% and 32.8% respectively. This was 10 and 7.9 percentage points higher than the overall growth rate. Meanwhile, processing trade imports and exports amounted to 272.3 billion yuan, up 1.1%.

In the first two months of 2024, the imports and exports of the nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) reached 1.29 trillion yuan, up 24.6%, accounting for 95.6% of Guangdong's total import and export value.

Among them, the exports increased by 26.9%, accounting for 96.5% of Guangdong's total exports, while the imports increased by 20.4%, representing 94% of the province's total imports. Among the nine cities, the exports and imports grew by double digits in six cities: Shenzhen (45%), Huizhou (36.3%), Zhongshan (23.1%), Zhuhai (17.4%), Jiangmen (13.5%), and Dongguan (10.6%).

General trade experienced the fastest growth, increasing by 35.9%, outpacing Guangdong's overall growth rate by 11.3 percentage points, and accounting for 60.7% of Guangdong's total import and export value. The proportion of private enterprises increased by 39.2%, up 6.7 percentage points to 64.1% compared to the same period last year. 

Exports of household appliances, integrated circuits, containers, and ships have shown impressive performance, increasing by 28.9%, 51.2%, 178%, and 210.9%, respectively. Imports of high-tech products have also grown rapidly, up 31.8%, with imports of integrated circuits, automatic data processing equipment and their components, and semiconductor manufacturing increasing by 28.4%, 304.9%, and 131.9%, respectively.