Exports Increased By 48.1% in August From A Year Earlier, And Shenzhen Port's Performance Was A Bit Outrageous

In the first eight months of 2023, Shenzhen's imports and exports totaled 2.37 trillion yuan, up 8.1% from the same period last year (the same below). Of this total, exports were 1.5 trillion yuan, up 19.4%, while imports were 872.66 billion yuan, down 7.1%.

 

In August, Shenzhen's imports and exports totaled 364.56 billion yuan, up 29.4%. Of this total, exports were 243.11 billion yuan, up 48.1%, and imports were 121.45 billion yuan, up 3.3%.

 

The main characteristics of Shenzhen's import and export in the first 8 months are as follows:

 

First, general trade accounts for more than half of the total and grows the fastest.

 

In the first eight months, Shenzhen's imports and exports totaled 1.27 trillion yuan in general trade, an increase of 14.2 percent, accounting for 53.5 percent of Shenzhen's total import and export value in the same period.

In the same period, bonded logistics imports and exports totaled 578.4 billion yuan, up 10.1%, accounting for 24.4%.

 

Second, private enterprises are the main driving force for the growth of foreign trade.

 

In the first eight months, the import and export of Shenzhen's private enterprises totaled 1.55 trillion yuan, an increase of 15.6 percent, accounting for 65.3 percent, driving Shenzhen's foreign trade growth by 9.5 percent in the same period.

 

Third, maintain growth for trading partners except Japan, South Korea and Taiwan.

 

In the first eight months, Shenzhen's imports and exports to the top four trading partners, including Hong Kong, ASEAN, the European Union and the United States, were 365.68 billion, 363.08 billion, 267.78 billion and 264.71 billion yuan respectively, up 5%, 9%, 13.3% and 13.4% respectively, accounting for more than half of the total. 53.2%.

 

Imports and exports to India, Australia and the United Kingdom maintained rapid growth, with increases of 40.2%, 52.4% and 24.3%, respectively.

 

In the first eight months, imports and exports to "Belt and Road Initiative" co-building countries totaled 796.1 billion yuan, up 13.8 percent, or 33.6 percent, while imports and exports to RCEP member countries totaled 626.55 billion yuan, up 4.8 percent, accounting for 26.4 percent.

 

Fourth, the export of mechanical and electrical products accounted for more than 70%, and the export of labor-intensive products increased rapidly.

 

In the first eight months, Shenzhen exported 1.09 trillion yuan of mechanical and electrical products, an increase of 11.8%, accounting for 73.1% of Shenzhen's total export value in the same period.

 

Among them, traditional products such as electronic components, mobile phones, automatic data processing equipment, household appliances, audio and video equipment and their parts were exported to 150.74 billion, 81.24 billion, 60.24 billion, 48.92 billion and 47.14 billion yuan respectively, up 16.6%, 1.5%, 16.8%, 21.9% and 7.1%, respectively. Exports of lithium-ion batteries and electric manned vehicles totaled 43.45 billion yuan and 10.69 billion yuan respectively, up 28.7% and 611.8% respectively.

 

In the same period, exports of labor-intensive products totaled 175.46 billion yuan, an increase of 45.1 percent, or 11.7 percent, of which seven major categories of labor-intensive products maintained growth.

 

Fifth, imports of mechanical and electrical products accounted for nearly 80 percent, and imports of gold and agricultural products increased.

 

In the first eight months, Shenzhen imported 672.23 billion yuan of mechanical and electrical products, accounting for 77% of Shenzhen's total import value in the same period.

 

In the same period, gold imports totaled 29.78 billion yuan, up 19.8%.

Imported agricultural products totaled 69.5 billion yuan, up 6.8 percent, or 8 percent.

Of this total, meat, edible aquatic products and alcohol and beverages increased by 13%, 29.9% and 25.2%, respectively.