Guangdong-Russia Trade Up Steadily in Apr 2017


According to China Customs statistics, from January to April 2017, Guangdong Province trade with Russia totaled CNY 13.77 billion, up 42.1% year-on-year (YOY), including export to Russia valued 12.53 billion yuan, up 39.6%; import from Russia valued 1.25 billion yuan, up 73.6%. Since November 2016, Guangdong-Russia trade has continued growing for six consecutive months. In April alone, the trade reached 4.12 billion yuan, up 69.9%, a record increase since July 2011, including export value 3.65 billion yuan, up 67%, and import value 470 million yuan, up 96.6%.

Characteristics of Guangdong-Russia Trade in April:

(1) Ordinary trade mode dominated, with import more than twice:

In April, Guangdong's ordinary trade with Russia reached 3.19 billion yuan, up 83.5%, accounting for 77.3% of the total trade; therein, export value 2.8 billion yuan, up 73.7%, and import value 390 million yuan, largely up 2.1 times. Meanwhile, processing trade with Russia reached 730 million yuan, up 23.3%, accounting for 17.7%. In addition, other trade modes totaled 120 million yuan, up 5.4 times, including tourist shopping value (all for export) 100 million yuan, up 4.4 times, and market procurement value (all for export) 22.06 million yuan, instead of none last April.

(2) Exports were mainly electromechanical products, while imports mainly mineral products:

This April, exported to Russia, electromechanical products reached 2.75 billion yuan, up 78.1%, accounting for 75.6% of the total export; high-tech products reached 1.27 billion yuan, up 92.2%, accounting for 34.9%; traditional labor-intensive products 590 million yuan, up 59.9%, accounting for 16.3%.

In the same period, imported from Russia, platinum plates were worth 120 million yuan, instead of none last April, accounting for 26.3%; imported coal and lignite reached 149,000 tons, an increase of 40.1%, worth 120 million yuan, up 1.6 times, accounting for 25.2%; imported lead ore and concentrate 4,949 tons, worth 51.895 million yuan, instead of none last April; imported diamonds worth 24.19 million yuan, down 58%.
Source: ETCN
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