City’s exports increase by 4.8% to ¥1.2t

Writer: Han Ximin  | Editor: Holly Wang  | From: Shenzhen Daily | Updated: 2019-10-25

Shenzhen foreign trade reached 2.11 trillion yuan (US$298.77 billion) in the first nine months, and exports increased by 4.8 percent year-on-year to 1.2 trillion yuan, according to Shenzhen Customs.

Exports were driven up by the growth of general trade and the good trade performance of Shenzhen with ASEAN, the European Union (E.U.) and Belt and Road countries.

Statistics show the value of exports and imports in Shenzhen’s general trade reached 1.02 trillion yuan, accounting for 48.2 percent of total trade. The exports in general trade were valued at 550.1 billion yuan, an increase of 8.8 percent, which spurred the city’s total exports by 3.9 percentage points.

Exports to ASEAN countries and the E.U. reached 307.3 billion yuan and 227.6 billion yuan, an increase of 2.7 percent and 15.5 percent, respectively.

Trade with Belt and Road countries reached 459.4 billion yuan, an increase of 5.7 percent.

The trade of private enterprises reached 1.22 trillion yuan, an increase of 5.1 percent, accounting for 57.7 percent of the city’s total trade.

The export of mechanical and electrical products and labor-intensive products increased by 2.4 percent and 12 percent, respectively. The export of light fittings, porcelain products, textiles and garments maintained good momentum.

Notably, the export of electricity-powered motorcycles and electricity-assisted bikes continued to increase, reaching a total of 2.47 million units, an increase of 54.4 percent. In terms of value, their exports reached 2.21 billion yuan, an increase of 83 percent.

The import of agricultural produce increased by 11.1 percent.