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Guangzhou's foreign trade reaches $160b in 2022 | Updated:2023-02-10

In 2022, the total import and export value of Guangzhou's foreign trade reached 1.09 trillion yuan ($160 billion), an increase of 1.1 percent when compared to the same period from the previous year. This accounts for 13.2 percent of the total foreign trade value of Guangdong province.

It should be noted that the fourth quarter of 2022 saw year-on-year growth of 22.7 percent.

In 2022, Guangzhou's general trade imports and exports increased by 17.6 percent, and its bonded logistics imports and exports increased by 23.2 percent, which strongly boosted the growth of Guangzhou's foreign trade industry. 

Guangzhou's import scale continued to expand, achieving an annual import trade volume of 475.36 billion yuan, a year-on-year increase of 5.3 percent. This accounts for 16 percent of the total import value of Guangdong province.

The Guangzhou Baiyun International Airport Comprehensive Bonded Zone and the Nansha Comprehensive Bonded Zone have both continued to transform and upgrade themselves, while also supporting foreign trade enterprises to further explore international and domestic markets.

In 2022, the total import and export value of the two comprehensive bonded zones reached 166.24 billion yuan, a year-on-year increase of 48.4 percent.

Since the implementation of the Regional Comprehensive Economic Partnership (RCEP) last year, many industries have been benefited. Guangzhou has maintained good cooperation and economic exchanges with  RCEP member countries such as Vietnam, Thailand Japan.

The RCEP also continues to promote closer cooperation between traditional foreign trade enterprises, logistics enterprises, and the cross-border e-commerce industry. 

In 2022, Guangzhou's import and export trade with RCEP countries exceeded 350 billion yuan, accounting for about 33.6 percent of Guangzhou's total foreign trade import and export value.

In addition, Guangzhou's private enterprises continued to develop, and their import and export trade volume exceeded 500 billion yuan in 2022, accounting for more than 50 percent of the city's foreign trade.




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