The total value of foreign trade imports and exports in multiple regions reached a historic high in 2023


Recently, many regions have released their 2023 foreign trade import and export performance reports, with many regions achieving historic highs in import and export scale. According to the official account of "Guangdong Release", in 2023, the total value of Guangdong's foreign trade import and export will hit a new historical high, reaching 8.3 trillion yuan, up 0.3% year on year. The total value continues to remain the largest province in China's foreign trade, accounting for 19.9% of the country's share. As the core of the development of the Beijing Tianjin Hebei region, the Beijing region has also presented a remarkable foreign trade performance report in 2023. According to statistics from Beijing Customs, in 2023, the total import and export value of the Beijing region was 3.65 trillion yuan, a year-on-year increase of 0.3%, 0.1 percentage points higher than the national growth rate. The import and export scale exceeded 3 trillion yuan for the third consecutive year, setting a new historical high. According to statistics from Shanghai Customs, the total import and export value of Shanghai in 2023 reached a historic high of 4.21 trillion yuan. Tian Lihui, Dean of the Financial Development Research Institute of Nankai University, stated in an interview with Securities Daily that the foreign trade import and export data released by various regions indicate that China's foreign trade resilience and vitality are gradually increasing. In addition, this also indicates that a series of policies and measures to stabilize foreign trade have been effective, providing support for foreign trade enterprises. According to national data, China's total import and export value reached 41.76 trillion yuan in 2023, a year-on-year increase of 0.2%. Among them, exports reached 23.77 trillion yuan, an increase of 0.6%; Imports amounted to 17.99 trillion yuan, a decrease of 0.3%. The overall operation of foreign trade is stable, with a clear trend of improvement in the fourth quarter. From a trend perspective, Wang Lingjun, Deputy Director of the General Administration of Customs, introduced at a press conference held by the State Council Information Office on January 12 that the import and export scale will gradually increase in 2023, with each quarter stronger than the previous. The first quarter was 9.69 trillion yuan, while the second, third, and fourth quarters were all above 10 trillion yuan. In the fourth quarter, it continued to grow stronger month by month, with year-on-year growth of 0.8%, 1.3%, and 2.8%, respectively. In December, it reached 3.81 trillion yuan, setting a new record for monthly scale. While the total value of foreign trade imports and exports in many regions has reached a new high, the export momentum has also shown rich and active characteristics. For example, from the export situation of electric passenger vehicles, lithium-ion batteries, and solar cells, the total export of Guangdong Province's "new three samples" increased by 33.7%; The export of electric passenger vehicles in Beijing was 1.81 billion yuan, a year-on-year increase of 12.7%. During the same period, the export of automotive spare parts was 17.02 billion yuan, a year-on-year increase of 19.6%. From a national perspective, in 2023, China's total exports of "new three types" products reached 1.06 trillion yuan, breaking through the trillion yuan mark for the first time, with a year-on-year increase of 29.9%. The export momentum reflects the move from Made in China to Created in China. Regarding the foreign trade import and export situation this year, Guo Yiming, Director of Investment Advisory at Jufeng Investment Consulting, predicted in an interview with Securities Daily that with the shift of overseas monetary tightening policies and the efforts of domestic stable growth policies, China's import and export are expected to recover moderately in 2024. From an import perspective, with the increase in domestic demand and the acceleration of subsequent enterprise stocking and production, it is expected to further drive the rebound of imports. "It is expected that the import and export trend will achieve stable growth this year."

Edit:Hou Wenzhe Responsible editor:WeiZe

Source:Securities Daily

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