Guangdong's foreign trade decline in May was mainly due to weak external demand

The Guangdong Provincial Government held an analysis meeting on the import and export situation of the province in May on the 18th in Dongguan. In May, the decline of Guangdong's import and export expanded again, failing to continue the trend of narrowing the decline in the past three months. The declines in import, export, export and import were 4, 5.1 and 2.5 percentage points respectively than in April. The Provincial Foreign Trade and Economic Cooperation Office believes that weak external demand and a sharp drop in raw material prices are the main reasons for the decline.
According to customs statistics, the total import and export value of the province from January to May this year was US$208.52 billion, down 21.8% year-on-year. The import, export, export and import of processing trade, which accounted for about 2/3 of the province's total import and export value, continued to decline. The declines in January-May were 26.6%, 24.2% and 30.5% respectively; accounting for more than 90% of the province's exports in the Pearl River Delta region. Continued decline, Guangzhou, Dongguan, Foshan, Zhuhai, Jiangmen fell more than 20%.
Liang Yaowen, director of the Provincial Foreign Trade and Economic Cooperation Department, said that since November last year, the province's exports have declined for seven consecutive months. The decline in imports and exports in the first half of this year is a foregone conclusion. It is expected that the decline will continue to narrow in the third quarter. The fourth quarter may achieve monthly growth, but the goal of achieving annual growth is very difficult.
Vice Governor of the province Wan Qingliang attended the meeting and delivered a speech. He said that he would use the spirit of "the West is not bright, the order is in the market, the south is not in the north, the domestic demand is on the side", and all efforts are made to ensure the realization of foreign trade this year. Exports have a target mission of growth.

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