ASEAN is Shenzhens largest Trading Partner in Belt & Road and Other Countries. The Shenzhen has made a brightest performance in the Foreign Trade.
Data shows that in the first quarter, the Import & Export of Shenzhen to ASEAN increased by 6% year on year, which is different from the overall decline of the city along the line; in March, the year on year growth was increased by 22.1%, driving the citys import and export along the line by 14.5 percentage points.
In addition, the Foreign Trade of Private Enterprises improved rapidly in March, showing strong resilience. Data shows trade with Belt & Road Countries increased by 11.8% in March.
Not only did they rapidly reverse the trend of 10.5% decline in the first 2 months, but also the fastest growth trade entity in the same month, which is higher than Shenzhens 2.3 percentage points in the overall growth of the one belt along the way.
Among the export products, mechanical and electrical products accounted for more than 70%, among which the export of automatic data processing equipment such as computers and their parts grew rapidly.
The import of products was dominated by mechanical and electrical products. In the first quarter, the import of mechanical and electrical products from the Countries along the Belt & Road area increased by 59 billion 240 million yuan, an increase of 15.3%, accounting for 86.7% of the import value of Shenzhen in the same period. In addition, imports of agricultural products reached 3.89 billion yuan, an increase of 17%.