In the first half of 2016, the total import and export of Guangdong Province reached RMB2.81 trillion, down 0.9% year-on-year. The export alone amounted to RMB1.78trillion, up 0.5%, and import amounted to RMB1.03 trillion, down 3.1%. What is noteworthy is that the total import and export, export and import separately reversed the downturn trend in the first quarter and increased by 1.6%, 2.4% and 0.3%, respectively.

 

In this year Guangdong has been facing a severe and complicated situation, but the situation is turning good gradually. In the first half year, the total import and export, export and import separately increased by 2.5, 1.7 and 3.7 percentage points, respectively, against the first quarter. In the second quarter alone, the three indexes reversed the downturn in the first quarter and grew by 1.6%, 2.4% and 0.3%, respectively. Generally, the foreign trade of Guangdong Province performed better than that of the whole country. The decrease rate of import and export in the first half year was 2.4 percentage points lower than the country’s average (-3.3%), accounting for 25.2% of the country’s total, up 0.7 percentage point year-on-year. The export growth rate was 2.6 percentage points higher than the country’s total (-2.1%), and the decrease rate was 1.6 percentage points lower than the country’s total (-4.7%).

 

Despite of the economic downturn across the world and the lower global market demand, more new uncertainties emerging in the international community, and the remaining downturn pressure of foreign trade, we should be confident that the foreign trade situation of Guangdong will get better with release of a series of policies of the central government and Guangdong provincial government for stabilizing and promoting the foreign trade, said a director of the Department of Commerce of Guangdong Province.

 

Source: Translated from Invest Guangzhou, July 14, 2016