Guangxi’s foreign trade import and export experienced significant growth in the first seven months of this year, reaching 393.51 billion yuan, a year-on-year increase of 34.4%, according to Nanning Customs. This growth can be attributed to several factors, including the advantages of Guangxi’s bonded logistics, small border trade, border residents’ mutual market trade, and the rapid expansion of trade with RCEP member countries, the Middle East, Africa, and other nations.
During the January to July period, exports accounted for 195.8 billion yuan, a year-on-year increase of 37.2%, while imports reached 197.71 billion yuan, a year-on-year increase of 31.8%.
Guangxi’s trade growth with RCEP member countries exceeded 60% since the beginning of the year, with exports to the Middle East and African countries witnessing rapid expansion. Imports and exports to RCEP member countries reached 215.44 billion yuan, a year-on-year increase of 67.2%. Specifically, imports and exports to ASEAN increased by 71.6% year-on-year, while imports and exports to the Middle East and African countries rose by 19% and 39%, respectively. Meanwhile, imports and exports to the EU saw a year-on-year increase of 47.7%, amounting to 12.08 billion yuan.
Guangxi’s favorable geographical advantages and industrial characteristics have contributed to its robust foreign trade performance. Southern Guangxi cities such as Nanning, Chongzuo, Fangchenggang, Qinzhou, and Beihai were at the forefront of foreign trade, registering imports and exports of 327.54 billion yuan, a year-on-year increase of 34.9%. These cities drove Guangxi’s overall trade growth by 28.9 percentage points. Additionally, traditional industries played a significant role in supporting foreign trade in five North Guangxi cities, namely Liuzhou, Baise, Guilin, Hechi, and Laibin, which saw imports and exports grow by 36.8% to reach 50.35 billion yuan. In the eastern part of Guangxi, including Wuzhou, Guigang, Yulin, and Hezhou, the implementation of the “Dongrong” initiative yielded positive results, with imports and exports amounting to 15.62 billion yuan, a year-on-year increase of 19.3%.
The construction of the Guangxi Pilot Free Trade Zone is progressing steadily, significantly enhancing Guangxi’s foreign trade capabilities. In the first seven months, the zone’s imports and exports amounted to 144.85 billion yuan, a year-on-year increase of 55.7%. The bulk commodity trading platforms and advanced manufacturing industries within the zone showcased exceptional development, importing 12.792 million tons of bulk commodities, an 81.2% year-on-year increase, thereby driving an overall increase in Guangxi’s bulk commodity imports by 17.9 percentage points during the same period. Furthermore, the zone’s exports of high-tech products reached 30.3 billion yuan, a year-on-year increase of 69.8%, accounting for 59.4% of Guangxi’s total high-tech product exports.
The demand for “cooling appliances” such as fans, air conditioners, and refrigerators has skyrocketed due to rising global temperatures, leading to a booming import and export market. Guangxi’s exports of “cooling appliances” amounted to 860 million yuan, a staggering year-on-year increase of 312.5%. Electric fans and air conditioners saw a surge of 318.8% and 11.7 times, respectively. Additionally, the import and export of fruits have flourished due to increasing consumer demand both domestically and internationally. Guangxi imported 6.37 billion yuan worth of fruit, a year-on-year increase of 120.2%, with a significant focus on fresh durians. Meanwhile, fruit exports reached 1.38 billion yuan, a year-on-year increase of 44.6%, primarily consisting of citrus fruits.
Overall, Guangxi’s foreign trade has experienced remarkable growth in the first seven months of this year, driven by various factors such as the expansion of trade with RCEP member countries, favorable geographical advantages, the Guangxi Pilot Free Trade Zone’s progress, and the booming demand for seasonal commodities. These positive developments bode well for the region’s economic outlook and highlight its increasing importance in global trade.