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Shenzhen's Foreign Trade with Major Trading Partners Continues to Grow


  In the first four months of 2023, Shenzhen's total imports and exports reached RMB 1.08 trillion, a year-on-year increase of 3.9%. The exports stood at RMB 672.63 billion, up 16.1%, and imports at RMB 403.87 billion, growing steadily.

  The city's economy has shown a growth momentum since the beginning of this year, with strong resilience and vitality in foreign trade. In the four months, the city's foreign trade was eye-catching, in particularly general trade, as the trade mix was improved.

  Statistics show that Shenzhen's general trade amounted to RMB 554.58 billion, up 2.6%, and representing over half of the city's total imports and exports. The bonded logistics and processing trade stood at RMB 264.58 billion and RMB 249.77 billion respectively, accounting for 24.6% and 23.2% of the total.

  Among its top ten trading partners, Shenzhen's foreign trade with Hong Kong SAR, ASEAN, the EU and the US increased, while its foreign trade with India and Australia grew fast. In these months, its foreign trade with Hong Kong SAR grew by 5.7% to RMB 181.69 billion, accounting for 16.9% of the total. The city's second to fourth-largest trading partners were ASEAN, the EU and the US, with trade with these regions reaching RMB 163.69 billion, RMB 122.49 billion and RMB 109.09 billion, up 6.7%, 17.5% and 2.3%, respectively. And its foreign trade with India and Australia grew by 55.2% and 87%, respectively. Shenzhen's foreign trade with other member states of RCEP came to RMB 284.94 billion, an increase of 2.1%, and other countries along the Belt and Road RMB 272.83 billion, up 17.1%.

  The introduction of policies and measures to better the business environment, push down business costs, and support the development of new business forms has vitalized private enterprises in Shenzhen, resulting in the fast growth in their imports and exports. These actions have contributed to stabilizing the foreign trade and improving the trade mix, helping to effectively maintain the stability of the global industrial chain and supply chain. In these four months, the private sector's imports and exports stood at RMB 683.13 billion, up of 8.7%, making up over 60% of the total.

  From January to April this year, Shenzhen's exports of machinery and electronic products, labor-intensive products and agricultural products all saw double-digit growth. In particular, the exports of machinery and electronic products increased by 12.3% to RMB 515 billion, accounting for 76.6% of the total. The exports of electronic components, automated data processing equipment including computers, and home appliances rose by 17.3%, 17.3% and 15.3% to RMB 70.92 billion, RMB 29.32 billion and RMB 21.44 billion, respectively. The exports of labor-intensive products amounted to RMB 70.75 billion, an increase of 35.7%, and agricultural products aggregated RMB 19.54 billion, an increase of 36.5%. In addition, the exports of precious metals or jewelry plated with precious metals climbed 86.1% to RMB 10.11 billion.

  The exports of lithium-ion batteries, electric manned vehicles, and solar cells increased by 53.9%, 12.4 times and 69.9%, respectively. The products represented by these three types of products that contain high technology and high added value and lead green transformation, are becoming new growth drivers and new competitive industries for Shenzhen's exports.

  The city's imports of agricultural products stood at RMB 36.21 billion, an increase of 12.4%. Besides, the imports of gold grew by 59.4% to RMB 15.87 billion.

(Source: Shenzhen Special Zone Daily)

Record No:Guangdong ICP 19022168 Commerce Bureau of Shenzhen Municipality,All rights reserved. Technical support:Shenzhen Municipal E-Government Resources Center