Maoming's ASEAN Trade Soars 112.2% in First Eight Months

Deep News
昨天

Data from Maoming Customs in Guangdong reveals that the city's total import and export value with ASEAN nations reached 2.2 billion yuan (RMB) in the first eight months of this year, marking a substantial 112.2% year-on-year increase. This impressive growth is attributed to the ongoing benefits of the RCEP policy framework and the deepening construction of the China-ASEAN Free Trade Area, which have allowed Maoming to capitalize on its distinctive industries and prime geographical position.

During this period, Maoming's imports of bulk commodities from ASEAN showed remarkable momentum, indicating an optimized structure in its energy and resource supply chain. Notably, the value of nickel-iron imports hit 720 million yuan, surging by 64.2% compared to last year. Furthermore, imports of wood and its products skyrocketed by 500% to reach 120 million yuan, while imports of livelihood-related goods, such as agricultural products, continued to expand steadily, diversifying in both volume and variety.

On the export front, the quality and efficiency of Maoming's specialty products have improved, with agricultural exports to ASEAN totaling 60 million yuan, a 21.6% increase year-on-year. Private enterprises have emerged as the dominant force in this trade landscape, contributing 1.74 billion yuan to the ASEAN trade volume—an 85.4% rise—which accounts for nearly 80% of the city's total trade with the bloc. Foreign-invested enterprises also played a significant role, recording a 2.7-fold increase in trade value to 360 million yuan, primarily driven by a surge in exports. Meanwhile, state-owned enterprises posted 100 million yuan in trade, focused predominantly on resource imports like crude oil.

Trade growth with ASEAN was not uniform but broadly positive, with nine out of the ten member states showing increases. Indonesia stood out as Maoming's largest trading partner, with bilateral trade expanding by 86.9% to reach 1 billion yuan. Other notable performances included Singapore, where trade jumped sixteen-fold to 260 million yuan, alongside significant gains for Thailand (62.2% growth), the Philippines (2.4-fold increase), and Cambodia (seventeen-fold increase). This diverse expansion underscores the successful market diversification strategy that is yielding tangible results for the city.

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