- Chongqing achieved RMB 113.07 billion (about USD 15.96 billion) in foreign trade in the first quarter.
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In late March, the export value recovered to 92.9% in the same period last year.
- Chongqing’s notebook computer export totaled RMB 24.27 billion, accounting for 37.8% of the city’s total.
- The number of enterprises with import and export growth reached 1,111, up nearly 50% from the previous month.
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Chongqing’s import and export to ASEAN totaled RMB 23.12 billion (about USD 3.26 billion) in the first quarter, accounting for 20.45% of its total.
In the first quarter this year, Chongqing achieved RMB 113.07 billion (about USD 15.96 billion) in foreign trade, down 14.1% from the same period last year and 4.2 percentage points from January to February, according to Chongqing Customs District P.R.C. on April 17.
Amid the sudden COVID-19 outbreak, Chongqing saw the continuous advance of its series of moves to stabilize foreign trade and the orderly work resumption of its foreign trade enterprises under the strong leadership of the CPC Central Committee. The rapid recovery of Chongqing’s foreign trade vitality mainly presents below five highlights:
Firstly, Chongqing saw a significant pick-up in export in March. Its import and export totaled RMB 44.5 billion (about USD 6.28 billion), down 6.7% year on year, including export reaching RMB 25.59 billion (about USD 3.61 billion), down 14.8%, and import reaching RMB 18.91 billion (about USD 2.67 billion), up 6.9%. The city’s export declined 41.7% compared with that in February and export value increased by over 30% every ten days. In late March, the export value recovered to 92.9% in the same period last year.
Secondly, the demand for production materials and consumer goods drove import to maintain growth. The import of production materials and consumer goods saw a huge increase in the first quarter in the wake of the gradual recovery of industrial production and residents’ lives. On one hand, such production materials as integrated circuits, hard disks, computer parts and components, liquid crystal display (LCD) panels, and parts and components of audio and video equipment increased by 47.6%, 10.3%, 19%, 44.4% and 1.4 times respectively. On the other, meat, fruits, clothing, shoes and hats, and daily necessities led to an increase of 61.4% in the import of consumer goods. Furthermore, the import of grain and finished vehicles increased significantly, representing 45.8 times and 10.1 times respectively on a year-on-year basis.
Thirdly, the export of electronic information products showed good momentum. In the first quarter, Chongqing’s notebook computer export totaled RMB 24.27 billion (about USD 3.4 billion), accounting for 37.8% of the city’s total. In March, the export value of the notebook computer recovered to over 90% in the same month last year. The export of integrated circuits and LCD panels increased significantly, representing 74.5% and 174.1% respectively.
Fourthly, the import and export activities of enterprises resumed rapidly. With the orderly work resumption, the number of enterprises with import and export performance across the city increased to 1,722, which recovered to 97.3% in the same period last year. Among them, the number of enterprises with import and export growth reached 1,111, up nearly 50% from the previous month.
Fifthly, Chongqing’s import and export to regions including Hong Kong and Taiwan, and the country ROK increased significantly, representing 66.2%, 36.7%, and 12.4% respectively. ASEAN remains Chongqing’s largest trading partner. Chongqing’s import and export to ASEAN totaled RMB 23.12 billion (about USD 3.26 billion) in the first quarter, accounting for 20.45% of its total.