Shenzhen's economic landscape continues to display robust growth as recent data from Shenzhen Customs unveiled a substantial uptick in foreign trade. Between January and April, the city's foreign trade soared to 1.41 trillion yuan, reflecting an impressive 31.8% increase compared to the same period last year.

Exports surged to 893.32 billion yuan, marking a 33.9% growth, while imports also experienced an increase of 28.4% to reach 517.26 billion yuan.

An aerial view of the Yantian Port. File photo

The trade volume of private enterprises totaled 1 trillion yuan over the first four months, up 48% year on year. It accounted for 71% of the total import and export volume, marking a 7.8 percentage point increase from the previous year.

General trade and the bonded logistics sectors experienced significant expansions during this period, with processing trade also registering a marginal increase. General trade transactions amounted to 813 billion yuan, reflecting a 47.6% surge and constituting 57.6% of the total trade volume. Import and export activities through bonded logistics channels reached 332.65 billion yuan, marking a 27.1% increase.

The export landscape was dominated by electromechanical products, which amounted to 607 billion yuan, up 18.9% and constituting 68% of Shenzhen's total exports. Mobile phones, computers, and household appliances also experienced growth, collectively reaching 114.58 billion yuan with a growth rate of 20.9%.

The city’s trade with the top 10 partners surged significantly, with trading volumes experiencing double-digit growth. Notably, countries participating in the Belt and Road Initiative showcased a substantial increase of 40.4%, while ASEAN retained its status as Shenzhen's largest trading partner, with a trade volume of 237.7 billion yuan — a 47.1% increase, constituting 16.9% of the total trade. 

Trade with other key partners like the United States, the European Union, South Korea, Japan, India, Australia, and the U.K. also saw substantial growth trends.

WeChat Editor/Claudia