On June 18, Chongqing Customs released foreign trade statistics. In the first five months of this year, Chongqing’s total foreign trade import and export value reached 387.86 billion yuan, a year-on-year increase of 32.5%. The growth rate was 17.2 percentage points higher than the national average. Foreign trade development has shown strong momentum.
Behind the outstanding achievements in foreign trade is the comprehensive release of the vitality of business entities.
Data show that in the first five months, the number of companies in Chongqing with actual import and export performance reached 5,321, a year-on-year increase of 30.3%, and various business entities are working together.
Private enterprises are still the backbone of foreign trade, with a total import and export of 186.53 billion yuan, an increase of 29.7%; the import and export of foreign-invested enterprises was 156.16 billion yuan, a growth rate of 31.6%; state-owned enterprises also performed very well, with an import and export of 45.12 billion yuan, a year-on-year increase of 51%, and there is ample growth momentum.
Chongqing’s foreign trade “circle of friends” continues to expand, with traditional and emerging markets exerting force in both directions.
The import and export of the top five trading partners maintained growth across the board, with ASEAN and the EU firmly ranking as the top two trading partners, achieving import and export of 64.56 billion yuan and 46.29 billion yuan respectively, with growth rates of 25.9% and 19.7%.
The countries jointly building the “Belt and Road” have become the core engine of foreign trade growth. The city’s import and export to them reached 177.23 billion yuan, an increase of 34.8%, contributing nearly 50% of Chongqing’s foreign trade increase.
The development of emerging markets such as Latin America, Africa, and Central Asia has achieved remarkable results, with imports and exports increasing by 35.5%, 44.5%, and 62.7% respectively. The diversified market layout effectively hedges the risk of external market fluctuations.
As a pillar industry in Chongqing, the export of mechanical and electrical products continues to develop.
The export value of laptops, cars, mobile phones and motorcycles reached 71.68 billion yuan, 23.81 billion yuan, 23.16 billion yuan and 12.21 billion yuan respectively.
Among them, the growth rate of automobile exports reached 66.4%, leading the four major categories; the export of agricultural products was 1.12 billion yuan, a year-on-year increase of 56.1%, and the export of specialty agricultural products to overseas markets was strong.
There are also many highlights on the import side. The imports of integrated circuits, computer parts and accessories, and consumer goods were 47.39 billion yuan, 11.49 billion yuan, and 10.79 billion yuan respectively. The import of computer parts and accessories increased by as much as 258.1%, providing a solid guarantee for the stable supply of the local electronics manufacturing industry chain.
Overall, Chongqing’s foreign trade performance in the first five months is remarkable, and all aspects of data show a good growth trend.
Whether it is the release of vitality of business entities, the diversified expansion of the market, or the export power of pillar industries and the guarantee role of the import side, it has laid a solid foundation for the sustainable development of Chongqing’s foreign trade.
In the future, Chongqing’s foreign trade is expected to continue to maintain this strong development momentum and achieve even better results in the international market.
