In the first quarter of 2025, Guangdong's total imports and exports reached 2.14 trillion yuan, reflecting a year-on-year increase of 4.2%, which is 2.9 percentage points higher than the national average. Exports totaled 1.34 trillion yuan, up 1.4%, while imports amounted to 798.15 billion yuan, up 9.3%.

Despite a 3.7% decline in January, trade rebounded strongly in February and March, with year-on-year growth of 3.1% and 14%, respectively. The province recorded record-high figures for imports, exports, and total trade volume in Q1.

Private enterprises were a key driver, with Q1 imports and exports totaling 1.36 trillion yuan, up 4.8%, and accounting for 63.4% of Guangdong's total trade, representing an increase of 0.4 percentage points year-on-year. Foreign-invested enterprises also demonstrated positive momentum, recording 677.03 billion yuan in trade, up 5.3%.

General trade reached 1.24 trillion yuan, a 1.6% increase, comprising 57.8% of total trade. Bonded logistics trade surged 19.4% to 453.63 billion yuan, 15.2 percentage points faster than the overall growth rate.

All of Guangdong’s top five trading partners experienced positive growth. ASEAN retained its position as Guangdong’s largest trading partner, with bilateral trade totaling 349.43 billion yuan, up 6.9%. Trade with Hong Kong SAR, the European Union, the United States, and Taiwan Province of China grew by 6.8%, 6.9%, 3%, and 36.3%, respectively. Trade with countries participating in the Belt and Road Initiative rose by 3.3%.

Mechanical and electrical products continued to dominate Guangdong's export portfolio, totaling 904.27 billion yuan in Q1, an increase of 6.6%, and accounting for 67.5% of total exports. Major product categories such as computers and parts, electrical equipment, and household appliances recorded growth of 19.6%, 13.3%, and 6.4%, respectively. Exports of electric vehicles, motorcycles, and ships surged by 107.9%, 46.5%, and 32.2%. Conversely, exports of labor-intensive goods and steel declined by 13.2% and 57.8%.

Photo | Dai Bosi