City's foreign trade strengthens with 5.3% YoY expansion
2023-11-21 09:42     Source : DongguanToday

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On November 20, Huangpu Customs released the import and export data for the first ten months of this year. The data reveals that in October, Dongguan's foreign trade value reached 102.9 billion yuan, marking a growth of 5.3% compared to the same period last year. The overall scale of foreign trade in Dongguan ranks second in Guangdong Province, underscoring a further improvement in the positive momentum of export and import trade.

Examining the market entities, private enterprises stand out as the pioneers driving industry innovation and transformation, acting as the vital force propelling Dongguan's foreign trade towards high-quality development. In October, the import and export volume of Dongguan's private enterprises reached 62.45 billion yuan, showing a remarkable increase of 23%. This accounted for 60.7% of Dongguan's total import and export value during the same period, marking an 8.7 percentage point increase in market share.

Analyzing trade partners, in October, Dongguan's import and export to the Hong Kong region of China increased by 27.9%. Growth was also observed in trade with the United States (3%) and the European Union (1.1%). Simultaneously, trade with emerging markets demonstrated robust performance, with a 19.5% increase in import and export to other BRICS countries.

Examining the commodity structure, in October, the export of electromechanical products from Dongguan amounted to 44.65 billion yuan, showing a growth of 4.7%, constituting 66.1% of Dongguan's total foreign trade export value during the same period. Notably, the export of integrated circuits came to 6.66 billion yuan, registering an impressive growth of 60.2%. Concurrently, the import of electromechanical products into Dongguan totaled 28.89 billion yuan, growing by 6.6%, representing 81.8% of Dongguan's total foreign trade import value during the same period.

Dongguan, renowned as the "world's factory," is a city with a GDP exceeding one trillion yuan and a population surpassing ten million. Its foreign trade scale consistently ranks among the top both in the country and the province. Behind these figures lies the concerted effort of foreign trade enterprises and the sustained effectiveness of Dongguan's foreign trade policies.

Editor: Zheng Sihui