According to the latest data released by Hefei Customs, the total value of Anhui's goods trade in the first half of this year reached 396.78 billion yuan, achieving the best level for the same period in history, with a year-on-year increase of 7.4%, 1.3 percentage points higher than the national average. Exports totaled 268.58 billion yuan, up 9.7%, while imports reached 128.2 billion yuan, growing by 2.8%.

What are the main factors supporting these impressive results?

Externally, the improvement in the global trade environment has strongly driven the stable growth of foreign trade. The World Trade Organization (WTO) forecasts that global goods trade volume will grow by 2.6% in 2024 and is expected to continue its recovery momentum into 2025 with a growth of 3.3%. The International Monetary Fund (IMF), in its latest World Economic Outlook report, also predicts that global trade volume, including goods and services, will grow by 3% this year. Meanwhile, the recovery of demand in developed economies like Europe and the U.S., and the upward cycle of the global technology industry, among other factors, have also contributed positively to the recovery of external demand.

Electromechanical products have always been Anhui's main exports, accounting for 70% of the province's exports in the first half of this year.

Data shows that in the first half of this year, Anhui’s exports of automobiles (including chassis) and parts totaled 56.74 billion yuan, a year-on-year increase of 23.8%, driving the province's export growth by 4.5 percentage points. Exports of automatic data processing equipment and parts reached 22.32 billion yuan, up 23.4%, while exports of household appliances were 18.27 billion yuan, growing by 14.9%.

The continuous promotion of high-level opening-up has further expanded new space for foreign trade growth in emerging markets.

Since the beginning of this year, Anhui’s trade partners have become more diverse and optimized. Trade with traditional markets has remained generally stable, while trade with emerging markets has continued to accelerate. Data shows that in the first half of the year, Anhui’s imports and exports to the EU, ASEAN, and the U.S. were 51.06 billion yuan, 45.86 billion yuan, and 45.07 billion yuan, respectively, with year-on-year growth rates of 0.1%, 9.7%, and 7.3%. During the same period, imports and exports to countries involved in the Belt and Road Initiative totaled 199.21 billion yuan, a year-on-year increase of 4.8%.

Source: Anhui Daily