Guangdong-Australia Trade Value Up YOY & Down MOM in May 2017

 

According to China Customs statistics, for January-May this year, Guangdong Province export-import trade with Australia totaled 43.94 billion China yuan, up 40.4% year-on-year (YOY). Therein, export to Australia reached 24.48 billion yuan, up 31.7% YOY; import from Australia reached 19.46 billion yuan, a substantial increase of 53.1% YOY.

Guangdong-Australia trade characteristics in May alone:

(1) May trade value up year-on-year while down month-on-month (MOM).
This May, the bilateral trade totaled 9.16 billion yuan, up 31.2% YOY, down 6.6% MOM. Therein, export to Australia reached 5.33 billion yuan, up 37.5% YOY and down 3.4% MOM; import from Australia reached 3.83 billion yuan, up 23.3% YOY and down 10.8% MOM (see the chart below).
 

(2) Ordinary trade mode accounted for over 60%, with growth in processing trade.

This May, Guangdong-Australia ordinary trade reached 5.92 billion yuan, up 28.6% YOY, accounting for 64.6% of the total trade; processing trade reached 1.79 billion yuan, up 29.9% YOY; the trade under Customs special control reached 870 million yuan, up 3.9% YOY.

(3) Private enterprises were the major exporter and importer.

This May, Guangdong-based private enterprises had Australia trade worth 4.38 billion yuan, up 44.3% YOY, accounting for 47.8%; foreign-invested enterprises’ Australia trade reached 3.3 billion yuan, up 24.7% YOY, accounting for 36%; state-owned enterprises’ Australia trade reached 1.43 billion yuan, up 10.8% YOY, accounting for 15.6%.

(4) Electromechanical products accounted for over half the export, labor-intensive products export increased significantly.

This May, Guangdong exported electromechanical products worth 2.83 billion yuan to Australia, up 34.2% YOY, accounting for 53.2% of the total export; exported labor-intensive products (including textiles, clothing, bags, footwear, toys, furniture, and plastics) worth 1.5 billion yuan, up 38.7% YOY, accounting for 28.1%.

(5) Imports were mainly agricultural products and energy resource products.

This May, Guangdong imported Australian agricultural products worth 920 million yuan, up 28.1% YOY; imported iron ore and concentrate worth 640 million yuan, up 63.2% YOY; imported coal and lignite worth 400 million yuan, up 65.4% YOY; the three accounted for 51.1% of the total import.