Foreign Trade

Guangdong's foreign trade volume up in 2006

    The import-export trades of Guangdong shows a tendency of sustainable and rapid growth. In 2006, the total import-export volume was USD 527.22 billion, up by 26.8% over the previous year, accounting for 29.9% of the total of Mainland China, among which, the export value was USD 301.95 billion, up by 26.8%, and the import value was 225.27 billion, up by 18.7%.

    Guangdong export commodity structure is optimized unceasingly. In 2006, the export value of machinery and electronic products, high-tech products, and clothing and textile goods were USD 204.53 billion, USD 104.44 billion, USD 35.46 billion respectively, with an increase of 24.4%, 25% and 61.1% respectively; the export value of shoes, furniture and plastic products grew respectively by 12.6%, 24.6% and 12.7%.

    The structure of export market of Guangdong Province is also undergoing a process of further optimization. On the one hand, it maintains a rapid growth of trade with its main partners, including Hong Kong, America, Japan, European Union, and Association of South-East Asian Nations; on the other hand, it witnesses a robust trend of trade with new markets such as Africa, Latin America , MiddleEast and Russia. In 2006, the growth rate of export exceeded 40%.

    With regard to import in general, the import of main category products has gained comparatively rapid growth, and the price of resource product keeps going up. The import of mechanical and electrical products increased by 22.8%, and that of high and new technological products increased by 26%, accounting for 62.5% and 39.4% of the total import volume of Guangdong respectively.

    During the “11th Five-Year Plan” period, Guangdong’s foreign trade will maintain the growth at a moderate rate. Efforts will be made to enhance the technological content and the additional value of its exported products, strengthen the comprehensive competitive capacity and counter-risk ability, and develop a number of self-established brands of international reputation. The export volume is expected to increase by about 10% annually, amounting to USD$ 680 billion in 2010. Taking Guangzhou and Shenzhen as its center and the Pearl River Delta as its focal area, Guangdong will forge ahead in finance, logistics, commerce, information, R & D, and service outsourcing, expand the service export from the traditional sectors such as labour, engineering contracting, tourism, transportation to the high-tech industries with high additional value such as consultancy, computer and information.