Guangdong foreign trade value fell 19.7pc in first seven months

GUANGDONG's import and export trade value reached US$312.71 billion in the first seven months, sliding 19.7 per cent year on year and 22.7 per cent less than China's national decline in foreign trade, reports Xinhua.

The provincial foreign trade value accounted for 27.3 per cent of the national total and continued to rank first nationwide. Its export value declined 18 per cent to $185 billion and its import value dropped 22.1 per cent to $127.7 billion, while achieving a surplus of $57.28 billion, down 7.2 per cent.

Guangdong underwent a rebound in foreign trade with a narrowing monthly decrease. The province recorded $54.82 billion in foreign trade in July with a decrease of 14.9 per cent year on year, marking the smallest decline during this year and less than the national's 19.4 per cent decrease. Moreover, its July export first recorded a double-digit increase of 12.9 per cent since the beginning of 2009.

(Source: www.schednet.com)