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Despite the Pandemic, Chongqing's Foreign Trade Grows by 26.4% YoY in April

May 16,2020 ByJIEYU WANGICHONGQING

Despite the heavy damages on foreign trade by the pandemic, Chongqing’s foreign trade is recovering. According to the information from Chongqing Customs on May 13, Chongqing’s total foreign trade value was 53.88 billion yuan in April, up 26.4 percent year on year. Specifically, the value of exports was up to 36.58 billion yuan, an increase of 41.8 percent, while the value of imports was up to 17.3 billion, a growth of 2.8 percent.

According to the information from Chongqing Customs on May 13, Chongqing’s total foreign trade value was 53.88 billion yuan in April.

According to the relevant official in charge of Chongqing Customs, the increase in both imports and exports are mainly due to 2 factors:

First, the export of electronic information products such as laptops and smart wearable devices surged. In April, Chongqing exported 6.338 million sets of laptops, which increased by 74.3 percent, hitting a record high in single-month export; the export value of smart wearable devices reached 2.16 billion yuan, an increase of 1.5 times. During the same period, Chongqing exported 10,000 vehicles, up 91.5 percent.

Second, the import of producer goods and consumer goods increased substantially. In April, the imports of integrated circuits, hard disks, and computer parts increased by 11.3 percent, 16.3 percent, and 14.4 percent respectively, accounting for 58.8 percent of Chongqing’s total value of import in the same period. At the same time, imports of fruits, health care products, daily chemical products, meat, and other consumer goods increased by 1.5 times.

By far, the official added, Chongqing’s processing trade has basically recovered to the same level as the same period last year. At the same time, the proportion of imports and exports of foreign-invested enterprises increased slightly. In addition, the import and export between Chongqing and its trade partners, South Korea and China’s Taiwan and Hong Kong, remained stable: in the first four months this year, the imports and exports between Chongqing and its above-mentioned trade partners totaled 16.27 billion yuan, 13.26 billion yuan, and 7.62 billion yuan, up 7.8 percent, 39.8 percent, and 75.7 percent, respectively.

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