Chongqing’s Import-Export Value Exceeds RMB 410 Billion in First Three Quarters

Chongqing’s total value of import and export reached RMB 413.82 billion in the first three quarters, up 12.3% year on year, which is higher than the national overall import and export growth rate of 2.8%. (Source: Chongqing Customs District P.R.CHINA)

On February 22, Chongqing free trade experience tourist attractions were unveiled in Chongqing Free Trade Port Area.

On the whole, Chongqing’s foreign trade operation was stable in the first three quarters, with the following four features.

First, the import and export of processing trade made a significant contribution. In the first three quarters, Chongqing’s import and export value of processing trade was RMB 210.33 billion, up 14.8% year on year. It accounted for 50.8% of Chongqing’s total foreign trade value in the same period, with the total import and export value of opening-up platforms, such as special customs supervision areas and bonded logistics centers (Type B), reaching RMB 276.4 billion, up 25.3% year on year. It accounted for 66.8% of Chongqing’s total foreign trade value in the same period.

Second, ASEAN became the largest trade partner of Chongqing. In the first three quarters, Chongqing’s import and export to ASEAN increased significantly, with the total trade value of RMB 78.81 billion, up 46.1%. It accounted for 19% of Chongqing’s total foreign trade value in the same period, making ASEAN the largest trade partner of Chongqing. The value of Chongqing’s imports and exports to Vietnam increased by 1.3 times, accounting for 26.6% of the total to ASEAN. The value of its import and export to Malaysia, Thailand, and Singapore increased by 69.9%, 19.4%, and 4.8%, respectively, with their total accounting for 56.2% of the total to ASEAN.

Third, mechanical and electrical products saw two-way growth in imports and exports. In the first three quarters, the export and import value of Chongqing’s mechanical and electrical products was RMB 236.35 billion and RMB 108.22 billion, up 13.6% and 21%, respectively.

Fourth, channels of opening-up in different directions facilitated Chongqing’s foreign trade. China Railway Express (Chongqing) boasts a prominent radiation effect. In the first three quarters, products of Chinese enterprises from 29 provinces, direct-controlled municipalities, and autonomous regions arrived in Europe via CRE (Chongqing), realizing the import and export value of RMB 33.03 billion, up 48.9%. Among them, Chongqing’s enterprises achieve the import and export value of RMB 18.38 billion, up 41.5%. The development of lines of New International Land-Sea Trade Corridor in Western China is speeding up. The total value of imports and exports of Chongqing’s enterprises via rail-sea multimodal transport, Chongqing-ASEAN Regular Lorry, and international railway transport reached RMB 1.92 billion, RMB 3.05 billion and RMB 0.68 billion, up 48.1%, 70.4% and 510% respectively.

Source: Chongqing Daily