Guangxi's foreign trade shows eye-catching performance in 2023

The Jan 15 press conference. [Photo/Guangxi Daily]

Guangxi's total import and export value reached 693.65 billion yuan ($97 billion) in 2023, a year-on-year increase of 7.3 percent, exceeding the annual target set for the autonomous region, as announced by customs officials at a Jan 15 press conference.

Exports amounted to 363.95 billion yuan, representing a 1.5 percent increase, while imports reached 329.7 billion yuan, marking a substantial growth of 14.6 percent.

Last year, the general trade, which reflects the level of manufacturing development with a longer industrial chain, accounted for 294.35 billion yuan in import and export, marking a 7.6 percent increase and constituting 42.4 percent of the total import and export value, remaining the primary trade mode in Guangxi.

Simultaneously, border trade accounted for 124.74 billion yuan in import and export, reflecting a 27.6 percent increase, constituting 18 percent of the total. Within this category, small-scale border trade and border trade among residents increased by 5.9 percent and 1.1 times, respectively.

Private enterprises' import and export volume in Guangxi reached 436.46 billion yuan, marking a 7.5 percent increase and constituting 62.9 percent of the total import and export value, surpassing 60 percent for the fifth consecutive year. Meanwhile, the volume of foreign-invested enterprises reached 90.08 billion yuan.

Throughout 2023, Guangxi's import and export volume with other RCEP member countries reached 390.51 billion yuan, reflecting a 23.7 percent increase, dominating a significant portion of Guangxi's foreign trade. Specifically, trade with the largest trading partner, ASEAN, reached 339.44 billion yuan, a 22.8 percent year-on-year increase, breaking the 300 billion yuan mark for the first time and reaching a historic high.

With the rapid development of the new energy industry, Guangxi's export scale of electric passenger vehicles, lithium-ion batteries, and solar cells exceeded 15 billion yuan for the first time in 2023, totaling 15.57 billion yuan in exports, marking a 1.9-fold increase and contributing to a 2.8-percentage-point increase in Guangxi's exports during the same period. Specifically, the export of electric passenger vehicles reached 61.8 billion yuan, marking an 8.8-fold rise.