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Sichuan’s Foreign Trade in Q1 Rises by 26.2%, Ranking Sixth in China
Updated:2022.04.20

Sichuan’s import and export of goods in Q1 totaled 248.03 billion yuan, up 26.2% year on year, ranking eighth in scale and sixth in growth rate domestically, Chengdu Customs District P.R. CHINA said on April 18.

In the first quarter of 2022, Sichuan’s export of goods reached 151.99 billion yuan, an increase of 38.3% year-on-year, and its import of goods amounted to 96.04 billion yuan, an increase of 10.9% year-on-year. During the same period, China’s total value of imports and exports went up by 10.7% year-on-year, rising 13.4% and 7.5% on a year-on-year basis in exports and imports respectively. 

Specifically, Sichuan’s imports and exports by general trade in Q1 came to 82.19 billion yuan, up 94.7% year-on-year, accounting for 33.1% of Sichuan’s total value of foreign trade of the same period with 11.7 percentage points higher than the same period last year. 

Sichuan’s growth in imports and exports with its major trading partners was remained. In the first quarter of 2022, Sichuan realized an increase in imports to and exports from the US, ASEAN, EU and Japan by 8.4%, 25.5%, 12.3% and 26.9% respectively and its imports and exports with countries and regions along the Belt and Road reached 78.49 billion yuan, an increase by 35.3% year-on-year, accounting for 31.6% of Sichuan’s total value of imports and exports at the same period. With more bailout policies for enterprises being in place, the foreign trade market entities kept their development resilience and many private enterprises showed their great vitality. In Q1, the number of foreign trade enterprises with recorded imports and exports performance in Sichuan reached 4,756, an increase of 619 from the same period last year. Among them, private enterprises’ imports and exports went up by 99.9% year-on-year, 73.7 percentage points higher than the overall growth rate of foreign trade and up 21.9 percentage points in the overall growth of foreign trade in Sichuan. 

Chengdu’s imports and exports in Q1 amounted to 212.57 billion yuan, up 22.2% year-on-year, accounting for 85.7% of Sichuan’s total imports and exports at the same period, and the city had its proportion of province’s overall foreign trade volume 2.8 percentage points lower than the same period last year, in spite of remaining itself as a bellwether in the foreign trade sector. However, Mianyang, Yibin and Luzhou saw a year-on-year increase in regional foreign trade by 24.9%, 29.4% and 116.3% respectively, and the growth rate of Bazhong, Liangshan and Ya’an was faster by 5.3 times, 4.6 times and 2.6 times.

In terms of major products, exports grew steadily in mechanical and electrical products. Sichuan’s exports of mechanical and electrical products in Q1 amounted to 113.03 billion yuan, up 17.1% year-on-year, accounting for 74.4% of Sichuan’s total exports at the same period; while the imports of mechanical and electrical products reached 77.8 billion yuan, up 0.2% year-on-year.

 
 
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