Foreign trade of Guangxi hits record highs in imports, exports

In the first seven months of this year, Guangxi recorded a total import and export value of 401.33 billion yuan ($55.89 billion), denoting an 11.1 percent year-on-year surge, setting a historical high for the same period.

Private enterprises emerged as the main driving force of Guangxi's foreign trade during this period, with imports and exports amounting to 276.88 billion yuan, signifying a 31 percent year-on-year increase and contributing 69 percent of the region's total import and export value.

This year, Guangxi has actively engaged in extensive exchanges and cooperation with fellow member countries of the Regional Comprehensive Economic Partnership, Latin America, Africa, and other countries and regions, promoting the continuous growth of the region's import and export trade volume.

Regarding specific countries and regions, in the first seven months, Guangxi's imports and exports to other RCEP member countries exhibited consistent growth, reaching 242.5 billion yuan, reflecting a 23.2 percent year-on-year upsurge. Furthermore, trade with ASEAN totaled 214.93 billion yuan, marking a 24.3 percent year-on-year increase, setting a historical high for the same period.

In the first seven months, Guangxi's export of lithium batteries surged by 143.9 percent year-on-year increase, reaching 5.93 billion yuan. Moreover, exports of electric vehicles represented by brands such as Wuling and Baojun from Liuzhou, reached 590 million yuan, an 859.7 percent year-on-year increase.

Guangxi's enterprises exported 12.43 billion yuan through the customs cross-border e-commerce management platform, a 37.4 percent year-on-year increase, with exports to Thailand and Vietnam reaching 4.96 billion yuan and 4.46 billion yuan, respectively, year-on-year increases of 86.4 percent and 46.8 percent respectively.