Beijing's foreign trade exceeds 3 trillion yuan for 3 consecutive years
Xinhua | Updated: 2024-01-18 16:52A view of Beijing's CBD area. [Photo/VCG]
Snapshot Brief: Key TakeawaysConsistent High Performance in Trade: Beijing's import and export volume has maintained a level exceeding 3 trillion yuan (about $417 billion) for three consecutive years, indicating a stable and robust trade environment.Slight Increase in Overall Trade Volume: In 2023, Beijing's total import and export volume showed a marginal increase of 0.3 percent year-on-year, reaching 3.65 trillion yuan. This suggests modest growth in trade activities.Stability in Imports, Growth in Exports: While the import value remained steady at 3.05 trillion yuan, exports experienced a 2 percent growth, reaching 600.01 billion yuan. The increase in exports contributes to the overall growth in trade volume.Significant Role of Beijing-Tianjin-Hebei Region: This region's imports and exports totaled 5.03 trillion yuan in 2023, continuing a three-year trend of positive growth. Notably, the region accounts for 20 percent of China's total import value, underlining its significant contribution to national trade.Dominance in Specific Imports: The region has a dominant share in the national import of certain commodities. Over half of China's total imports of grain, crude oil, natural gas, and aircraft, and two-thirds of automobile imports are from this region, highlighting its strategic importance in these sectors.Surge in High-Tech Product Imports: Beijing saw a significant 27 percent year-on-year increase in the import of high-tech products, totaling 341.28 billion yuan in 2023. This is the first time it has crossed the 300 billion yuan mark, indicating a strong focus on technology.Diverse Export Portfolio: The top five exports from Beijing are refined oil products, mobile phones, steel, integrated circuits, and auto parts. Together, they make up 55 percent of Beijing's total export value, showing a diversified export base with a focus on technology and manufacturing.
BEIJING - Beijing's import and export volume has exceeded 3 trillion yuan (about $417 billion) for three consecutive years, data from the local customs showed.
According to Beijing Customs, Beijing's import and export volume reached 3.65 trillion yuan in 2023, up 0.3 percent year-on-year. Among them, imports came in at 3.05 trillion yuan, the same as the previous year, while exports reached 600.01 billion yuan, up 2 percent year-on-year.
In 2023, the imports and exports of the Beijing-Tianjin-Hebei region reached 5.03 trillion yuan, having achieved positive growth for three consecutive years. The region's imports accounted for 20 percent of the country's total import value.
Last year, the region's imports of grain, crude oil, natural gas and aircraft accounted for over half of the country's total imports of these products, and the imports of automobiles accounted for two-thirds of the country's total auto import.
In 2023, the imports of high-tech products in Beijing reached 341.28 billion yuan, up 27 percent year-on-year, exceeding 300 billion yuan for the first time.
The top five export commodities in Beijing are refined oil products, mobile phones, steel, integrated circuits, and auto parts, accounting for 55 percent of Beijing's total export value.