Guangdong Trade hits record high in 2023

Guangdong’s import and export volume hit a record RMB8.3 trillion in 2023, a 0.3% increase from the previous year, comprising 19.9% of China’s total foreign trade. Growth was noted in trades with Belt and Road countries (1% increase to RMB3.04 trillion) and with Latin America and Africa (7.5% and 3.9% increases, respectively). Exports in mechanical, electrical products, and agricultural produce rose by 0.9% and 13.3%. Top exports included electric vehicles, lithium batteries, and solar cells, with a combined 33.7% increase. The province saw a record 130,000 foreign trade enterprises, 80% being private, contributing RMB5.04 trillion. GBA’s foreign trade reached RMB7.95 trillion, 19% of the national total.