According to Guangdong Sub-administration of the General Administration of Customs’ Clearance (GACC), Guangdong's foreign trade reached 1.84 trillion yuan in the first quarter of 2022, increasing 0.6 percent over the same period in 2021.
More specifically, exports increased by 2.2 percent, reaching 1.14 trillion yuan, while imports hit 691.94 billion RMB, a reduction of 2 percent .
Thanks to the rapid development of new foreign trade formats, including cross-border e-commerce and bonded business, Guangdong Pilot Free Trade Zone has seen its foreign trade hit 102.67 billion RMB in the first quarter, accounting for 5.6% of the province's foreign trade.
Moreover, since the RCEP (Regional Comprehensive Economic Partnership) came into effect this year, in the first quarter, Guangdong's imports and exports with other RCEP member countries amounted to 524.04 billion RMB, accounting for nearly 1/3 of the province's foreign trade. The province's imports and exports with the "Belt and Road" countries and regions reached 486.57 billion RMB, an increase of 4.3 percent.
Guangdong's imports and exports with major trading partners such as ASEAN, the United States, the European Union, and Taiwan of China increased by 0.9 percent, 10 percent, 4 percent, and 7.2 percent, respectively.
