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Guangdong's foreign trade remains stable in 2019

01/21/2020 Source: Xinhuanet.com

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Foreign trade in southern China's Guangdong Province continued to top the country at 7.14 trillion yuan in 2019, 0.2 percent slightly lower than the previous year, according to the provincial customs authorities Monday.

Guangdong's exports were 4.34 trillion yuan last year, up 1.6 percent from a year ago. The trade surplus reached 1.54 trillion yuan, an increase of 11 percent.

Private enterprises contributed to more than half of the total foreign trade for the first time last year, taking up a 51.8-percent share.

General foreign trade in the province reached 3.5 trillion yuan last year, up 4.1 percent year on year and accounting for 49 percent of the total.

Guangdong's trade to countries and regions along the Belt and Road rose 6.3 percent to 1.71 trillion yuan last year, while trade with Latin American countries increased by 8.8 percent.

The European Union (EU) replaced the United States as Guangdong's third-largest trade partner, with trade with the EU growing by 11.1 percent to 888.36 billion yuan in 2019.