The Slowdown In Guangdong'S Export Growth Is More Pronounced In The &Nbsp; In October, It Dropped To A Single Digit.

Guangdong exports

Import and export

The slowdown of Guangdong's import and export growth is more and more obvious.

Statistics released by customs Guangdong branch on 15 showed that in October, Guangdong's foreign trade import and export volume was 73 billion 70 million US dollars, up 7.8% from the same period last year, an increase of 21.6% below the national growth rate, the lowest monthly import and export value for the year.

Among them, the growth rate of exports dropped to single figures, and the growth rate of imports was less than 20 percentage points below that of the whole country.

Judging from the situation in the first 10 months of this year, the total value of Guangdong's import and export trade is US $747 billion 370 million, an increase of 19.1% over the same period last year, 5.2 percentage points lower than the 24.3% increase in the whole country.

Despite the slowdown, the total value of Guangdong's import and export trade is still 1/4 of the country's total.

Of these, 433 billion 990 million US dollars were exported and 313 billion 380 million US dollars were imported.

In the first 10 months, in the top 6 provinces and cities of China's foreign trade and import and export, the growth rate of imports and exports and imports in Guangdong ranked fifth and sixth respectively in 6 provinces and cities, while the increase in exports was second to Shandong and Zhejiang in third place.

Data also showed that Guangdong's imports of processing trade continued to grow negatively for two consecutive months.

But overall, in the first 10 months, the import and export of processing trade in Guangdong increased by 16.6%, accounting for 414 billion 880 million of the total value of imports and exports of Guangdong.

In terms of import and export enterprises, compared with the previous September, the growth rates of various types of enterprises such as state-owned enterprises and collective enterprises, foreign-funded enterprises and private enterprises have dropped to varying degrees.

In terms of bilateral trade, the growth rate of major markets in Europe and the United States has slowed down significantly since the second half of this year, and the import and export of emerging markets has maintained rapid growth.

In the first 10 months, in Guangdong and the top 6 largest trading partners (Hongkong, the United States, the European Union, ASEAN, Japan and Taiwan), except for the growth rate of the import and export of Hongkong, the remaining growth rate was lower than the overall growth rate of Guangdong, and the growth rate dropped considerably. Compared with the first half of this year, the total import and export value of Guangdong to emerging markets such as Latin America, the Middle East and Africa were 30 billion 540 million, 29 billion 590 million and 23 billion 730 million US dollars, respectively, with a significant increase of 27%, 31.6% and 71.1% respectively.