Cantonese Footwear And Other Labor-Intensive Products Export Steady Decline

Reporters learned from the customs and Excise Department of Guangdong yesterday that in the first 10 months of this year, the total value of Guangdong's import and export trade was US $747 billion 370 million, an increase of 19.1% over the same period last year (the same below), 5.2 percentage points lower than the 24.3% increase in the whole country, accounting for 25.1% of the total import and export value of the country.

Of which, exports amounted to 433 billion 990 million US dollars, an increase of 20.5%; imports of US $313 billion 380 million, an increase of 17.3%, and a surplus of US $120 billion 610 million in foreign trade.

Customs analysts believe that since the second half of this year, Guangdong's monthly growth has been narrowing, showing a downward trend month by month.

At present, Guangdong's foreign trade still occupies the first place in all provinces and cities in the total volume. However, under the situation of external major market economy and insufficient demand, how to make Guangdong's foreign trade steady and steady growth needs enough attention.

From the statistics point of view, the export growth of our province dropped to single digit in October, and the growth rate of imports was lower than the total level of the whole country by more than 20 percentage points.

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

Statistics show that in the first 10 months, in addition to the growth rate of imports and exports of Guangdong, the rest of the growth rate of Hongkong and the former 6 largest trading partners was lower than the overall growth rate of Guangdong, and the rate of decline was much lower than that of the first half of the year.

In the same period, Guangdong's import and export value to emerging markets such as Latin America, the Middle East and Africa were 30 billion 540 million US dollars, 29 billion 590 million US dollars and 23 billion 730 million US dollars respectively, with a significant increase of 27%, 31.6% and 71.1% respectively.

In terms of export commodities, the export growth rate of electromechanical products, high-tech products and most of the main labor-intensive products continued to slow down.

In the first 10 months, the export of mechanical and electrical products in Guangdong province was 292 billion 580 million US dollars, an increase of 16.9%, down 1.6 percentage points from last month, accounting for 67.4% of the total value of Guangdong's foreign trade export, and the export of high-tech products (with mechanical and electrical products crossed) 160 billion 210 million US dollars, an increase of 17%, a 1.8 percentage point drop from last month, and the export of electromechanical products and high-tech products continued to be lower than the overall growth rate of 20.5% in Guangdong.

Over the same period, the growth rate of labour intensive products such as garments and accessories, furniture and parts, footwear and textile yarns, fabrics and products in Guangdong has been steadily decreasing.

In addition, the export of agricultural products was 5 billion 460 million US dollars, an increase of 25.1%.