Dongguan sees foreign trade growth in Q1

A researcher operates equipment at the accelerator radio frequency technology laboratory of China Spallation Neutron Source (CSNS) in Dongguan, Guangdong Province, in this July 18, 2023 photo. Xinhua

In the first quarter of this year, the foreign trade of Dongguan, a manufacturing powerhouse in Guangdong Province, totaled 289.13 billion yuan (US$40.7 billion), continuing to rank second in Guangdong, local authorities said.

The growth rate of the city's import and export was the highest during the same period since 2022, with a year-on-year increase of 0.6%.

During the period, Dongguan's exports of integrated circuits and flat panel display modules increased by 5.2% and 24.2%, respectively.

A researcher is seen at the accelerator radio frequency technology laboratory of China Spallation Neutron Source (CSNS) in Dongguan, Guangdong Province, in this July 18, 2023 photo. Xinhua

At the same time, more than 80% of imports became mechanical and electrical products, an increase of 5.5%. Among them, imported integrated circuits increased by 7.5%.

Its trade with those emerging markets such as India, Brazil, and South Africa increased rapidly by 8.9%, 15.6%, and 45.8% respectively.

Dongguan's new forms of foreign trade grew rapidly, with cross-border direct purchase exports and cross-border e-commerce exports increasing by 26.1% and 565.8% respectively.

Last year, Dongguan's import and export has regained growth since October, bringing the total annual foreign trade value to 1.28 trillion yuan.