Guangdong-Australia Trade Value Up 41.4% in QTR 1


According to China Customs statistics, for the first quarter of this year, Guangdong Province export-import trade with Australia totaled 24.95 billion China yuan, up 41.4% year-on-year (YOY). Therein, export to Australia reached 13.64 billion yuan, up 24.4% YOY; import from Australia reached 11.31 billion yuan, a substantial increase of 69.3% YOY.

Guangdong-Australia trade characteristics in the first quarter:

(1) March export and import value showed big growth, import value at record high since 2016. This March, Guangdong-Australia trade reached 9.61 billion yuan, showing big growth of 62.6% YOY and 67.9% from this February. Therein, export to Australia reached 5.21 billion yuan, up 44.9% YOY and 90.5% from Feb; import from Australia 4.4 billion yuan, up 90.1% YOY and 47.3% from Feb. (See the chart below.)

(2) Ordinary trade mode accounted for over 60%. In the first quarter, Guangdong ordinary trade with Australia reached 16.44 billion yuan, up largely by 52.3% YOY, accounting for 65.9% of total trade value. Therein, export value was 6.48 billion yuan, up 12.3% YOY; import value 9.97 billion yuan, a substantial increase of 98%. Meanwhile, processing trade with Australia reached 4.42 billion yuan, up by 3.5% YOY, accounting for 17.7%; export and import under Customs special control reached 2.26 billion yuan, up 1.1% YOY.

(3) Private enterprises were the major exporter and importer, state-owned enterprises’ trade value up nearly 80%. In the first quarter, Guangdong’s private enterprises in Australia trade made 11.43 billion yuan, up 55.4% YOY, accounting for 45.8%. Therein, their export value was 6.94 billion yuan, up 37% YOY; import value 4.5 billion yuan, up 95.8% YOY. Over the same period, foreign-invested enterprises’ export and import totaled 8.67 billion yuan, up 14.1% YOY, accounting for 34.7%; state-owned enterprises’ export and import totaled 4.77 billion yuan, an increase of 79.4% YOY.

(4) Electromechanical products accounted for over 50% of export, and labor-intensive products export increased over 10%. In the first quarter, to Australia, Guangdong exported 7.06 billion yuan worth of electrical-mechanical products, up 21.2% YOY, accounting for 51.8%. Therein, electrical-electronic products were worth 2.59 billion yuan, up 7.1%; machinery worth 1.72 billion yuan, up 19.6%. Meanwhile, traditional labor-intensive products totaled 3.84 billion yuan, up 13.6%; clothing and furniture worth 1.17 billion yuan and 850 million yuan respectively, up 0.5% and 22.2%.

(5) Increased in bulk commodities import, while down in natural gas import. In the first quarter, Guangdong-imported Australian scrap metal, iron ore, coal and lignite were respectively worth 2.15 billion yuan, 2.07 billion yuan and 1.67 billion yuan, respectively up 81.2%, 3.1 times and 1.8 times YOY; agricultural products worth 2.02 billion yuan, up 52.8%; imported natural gas worth 1.14 billion yuan, down 5% YOY.

Source: ETCN
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