In 2023, Foshan's foreign trade reached 596.58 billion yuan, according to customs statistics. The exports accounted for 487.56 billion yuan, while imports totaled 109.02 billion yuan, showing a marginal growth of 1.4%. In December, Foshan's foreign trade amounted to 47.82 billion yuan, with exports at 37.47 billion yuan and imports at 10.35 billion yuan, achieving a notable 20.6% increase.

Examining the trade structure, Foshan conducted 80.2% of its 2023 trade through general trade, totaling 478.37 billion yuan. Processing trade constituted 15.8%, with 94.18 billion yuan, and bonded logistics accounted for 4.66 billion yuan.

In 2023, Foshan's private enterprises dominated with a total import-export value of 430.7 billion yuan, constituting 72.2%.. Foreign-invested enterprises followed at 27.6%, reaching 164.62 billion yuan, while state-owned enterprises contributed 1.25 billion yuan.

Analyzing major trading partners, Foshan's 2023 exports and imports with ASEAN countries amounted to 150.33 billion yuan, marking a 4.3% growth and representing 25.2% of the total. The United States, the European Union, Hong Kong, Japan, and Australia were also significant trading partners.

Regarding export products, Foshan exported machinery and electrical products worth 253.41 billion yuan in 2023, constituting 52% of the total. Notable categories included household appliances at 65.34 billion yuan, general machinery and equipment at 22.27 billion yuan, and lighting fixtures at 14.49 billion yuan. Labor-intensive products, high-tech products, ceramics, and precious metal or metal-clad jewelry also contributed significantly.

In terms of imports, there was a noticeable surge in high-tech product imports. Foshan imported high-tech products worth 15.85 billion yuan in 2023, experiencing a 16.4% growth. The import of machinery and electrical products reached 28.58 billion yuan, with significant increases in flat panel display modules and integrated circuits. Additionally, diamond and copper material imports exhibited substantial growth.

Reporter | Serena

Revisor | Eddie, Eleanor

Photo | China Council for the Promotion of International Trade