Sichuan's Import and Export Trade Hits a New High
The People's Government of Sichuan Province2021-08-18

The total value of Sichuan's imports and exports over the past seven months reached 501.97 billion yuan, a record high over corresponding past periods and ranking eighth in China. In July, Sichuan imported and exported 83.02 billion yuan of goods, a record high over single past months. The value of exports reached 51.21 billion yuan, hitting a new record over single past months.

"Sichuan's overall foreign trade is good, and the structure continues to optimize." According to relevant officials at Chengdu Customs, Sichuan's imports from and exports to major trading partners kept increasing in July. Sichuan's imports from and exports to its five major trading partners, including the United States, the EU countries and ASEAN, accounted for 71.8% of Sichuan's total imports and exports of the same period. Sichuan's imports from and exports to countries and regions along the Belt and Road reached 148.42 billion yuan, an increase of 11.3% and accounting for 29.6%.

The proportion of the import and export of processing trade decreased, and bonded logistics grew rapidly. In the previous seven months, Sichuan imported and exported 292.1 billion yuan in processing trade, an increase of 5.6% and accounting for 58.2%. The import and export in general trade reached 117.74 billion yuan, up 27.5% and accounting for 23.5%. In addition, the import and export in bonded logistics was 82.12 billion yuan, an increase of 45%.

Trading enterprises are becoming more motivated, and private enterprises are growing at a fast pace. In the previous seven months, Sichuan's private enterprises imported and exported 1,270.3 billion yuan of goods, an increase of 39.5%. The imports and exports of foreign-invested enterprises reached 340.38 billion yuan, up 8.9%. The imports and exports of state-owned enterprises reached 34.35 billion yuan, up 9.4%.

Some cities (prefectures) are experiencing rapid growth. Over this period, Chengdu (440.22 billion yuan, up 13.9%), Mianyang (13.96 billion yuan, up 4.7%) and Yibin (11.43 billion yuan, up 30.4%) ranked as the top three in Sichuan for their volume of foreign trade.

Mechanical and electrical products dominate Sichuan's imports and exports. In the first seven months of this year, Sichuan exported 246.59 billion yuan of mechanical and electrical products, an increase of 17.1% and accounting for 85.3% of Sichuan's total export value of the same period. The export of labor-intensive products reached 15.76 billion yuan, an increase of 45.3% and accounting for 5.5% of Sichuan's total export value of the same period. 189.76 billion yuan of mechanical and electrical products were imported, an increase of 8.7% and accounting for 89.1% of Sichuan's total import value of the same period. 3.89 billion yuan of agricultural products were imported, an increase of 17.6%.