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Guangzhou, capital of south China's Guangdong Province and an economic engine for the southern coastal area, processed 20.55 billion US dollars in foreign trade in the first half of this year, a year-on-year growth of 31.7 percent, according to latest statistics from the city government.
The total trade included 10.93 billion dollars in import volume, up 33.4 percent over the year-earlier level, and 9.62 billion dollars in export volume, up 29.8 percent, leaving a trade deficit of 1.31 billion dollars. The deficit is partly ascribable to a 9.4-percentage-point increase in the growth rate for import value, according to the municipal development and planning commission.
The brisk foreign trade was also owed to improved performance of the Guangzhou Port thanks to upgraded computerization. The Port realized cargo turnover of 105 million tons in the first half of this year, up 19.6 percent year-on-year, the commission said.
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