General

On June 14th, according to data from Chengdu Customs, the total import and export value of goods in Sichuan in the first five months of this year was 388.94 billion yuan. Customs data shows that in May, the import and export of goods in Sichuan reached 79.54 billion yuan, an increase of 9.4%, further continuing the trend of stable and positive foreign trade.

Since the beginning of this year, the "new three types" of foreign trade in lithium battery materials, electric passenger cars, and solar cells have performed outstandingly. According to customs data, the "new three types" of Sichuan's foreign trade in the first five months all maintained a rapid growth, with exports of Lithium hydroxide of 5.83 billion yuan, up 305.8%, and imports of lithium minerals of 19.81 billion yuan, up 317.8%; The export of electric passenger vehicles reached 3.1 billion yuan, an increase of 53%, accounting for 45% of the total export volume of automobiles in Sichuan; The export of solar cells reached 3.51 billion yuan, an increase of 72.9%.

After further data analysis, it was found that Sichuan's foreign trade exhibits the following characteristics.

The trade structure of Sichuan continues to be optimized. Customs data shows that in the first five months, Sichuan's general trade import and export amounted to 171.15 billion yuan, an increase of 34.3%, accounting for 44% of Sichuan's total import and export value during the same period. During the same period, the import and export of private enterprises in Sichuan reached 193.6 billion yuan, an increase of 50.1%, and the growth rate further increased, accounting for 49.8% of Sichuan's total foreign trade.

The development of the two regions is more balanced, with Chengdu's import and export in the first five months reaching 302.85 billion yuan, accounting for 77.9%. Driven by advantageous industries such as lithium battery materials, the import and export of cities such as Neijiang and Suining have doubled, with growth rates of 210% and 158% respectively. During the same period, foreign trade in cities such as Yibin and Deyang also showed a rapid growth trend.

The three trading partners are becoming more diversified, with Sichuan's imports and exports to other RCEP member countries reaching 136.3 billion yuan in the first five months, an increase of 6.7%; Import and export to countries along the "the Belt and Road" reached 133.04 billion yuan, up 8.2%. Maintaining rapid growth for emerging market countries, customs data shows that imports and exports to Africa reached 15.88 billion yuan, an increase of 45.2%; Import and export to other BRICS countries reached 28.8 billion yuan, an increase of 39.4%. We still maintain major trade exchanges with ASEAN, the United States, and the European Union, with imports and exports of 67.27 billion yuan, 61.73 billion yuan, and 54.4 billion yuan, respectively. (Translated from: China Business News Network)