Guangdong's imports hit US$13.79b in March
By Zheng Caixiong (China Daily)
Updated: 2004-04-14 08:47

Guangdong's import volume reached US$13.79 billion in March, an increase of 32.3 per cent from the corresponding month in the previous year.

It was a record high in a single month in Guangdong's foreign trade history.

The southern Chinese province, the nation's biggest foreign trader for several decades, mainly imported machinery and electronic products, technologies and high-tech products last month.

According to statistics released by Guangdong Customs yesterday, the province's good import performance helped Guangdong hit a total import volume of US$35.47 billion in the first three months this year, up 26.9 per cent from the same period last year.

Guangdong's import volume of general trade came to US$10.56 billion while imports from the processing industry notched up US$20.74 billion, up year-on-year 27.9 per cent and 22.9 per cent respectively.

Wu Sihai, an official from Guangdong Customs yesterday attributed the province's import growth to Guangdong's sustainable economic development since the beginning of the year.

Guangdong, which has insufficient raw materials and natural resources, needs to import a lot of products annually to support its economic construction, Wu told China Daily.

The strong growth in imports has spurred Guangdong to reach a foreign trade volume of US$72.74 billion in the first quarter of the year, up 24.5 per cent from the same period last year.

Guangdong's import and export volume represented 30.3 per cent of the country's total in the first three months.

The province's export volume grew year-on-year 22.2 per cent to hit US$37.27 billion.

And Guangdong had a foreign trade surplus of US$1.8 billion between January and March, while China had a foreign trade deficit of US$8.44 billion during the quarter.

Guangdong's export volume from non-State sectors also continued to enjoy strong growth in the first three months this year.

The province's exports from foreign-funded firms and joint ventures came to US$23.4 billion, an increase of 25.5 per cent and representing 62.8 per cent of the province's total in the first quarter.

The export volume from the province's collective and privately run companies also reached US$4.89 billion from January to March, up 39 per cent from the corresponding months of the previous year.

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