In the first five months of 2023, Liaoning’s total foreign trade volume reached 316.05 billion yuan, representing a 1.2% increase year on year. During this period, exports grew by 6% to reach 145.29 billion yuan, while imports decreased by 2.5% to reach 170.76 billion yuan. The trade deficit also shrank by 33.3%, amounting to 25.47 billion yuan.

From the perspective of trade modes, in the first five months of 2023, Liaoning recorded an import and export value of 220.35 billion yuan through general trade, accounting for 69.7% of the total value during the same period. Meanwhile, its import and export activities through processing trade amounted to 65.75 billion yuan, accounting for 20.8% of the total.

In terms of export products, mechanical and electrical products in Liaoning had the highest export value of 73.45 billion yuan, representing an increase of 11.1%, accounting for 50.6% of the total export value during the first five months. Electric vehicles, lithium batteries and solar cells, also known as “three new high-tech products”, had export values of 5.39 billion yuan, 1.64 billion yuan, and 550 million yuan, respectively, with growth rates of 106.9%, 56.5%, and 69.8%. In addition, the export value of electrical equipment rose by 26% to 5.92 billion yuan, while auto parts increased by 12.4% to 5.45 billion yuan. During the same period, the export value of textiles and clothing totaled 8.93 billion yuan, while the value of steel and agricultural products increased by 15.5% and 25.2%, respectively.

With regard to business types, private enterprises in Liaoning reached an import and export value of 147.21 billion yuan, achieving a growth rate of 12.4% and accounting for 46.6% of the total. This represents a 4.6 percentage points increase compared to the same period last year. Meanwhile, foreign-invested and state-owned enterprises accounted for 37.1% and 16.2% of the total import and export value, respectively.

Looking at Liaoning’s main trading partners, in the first five months of 2023, the European Union (EU) remained the largest one with an import and export value amounting to 50.4 billion yuan, accounting for 15.9% of the total. Following the EU, Japan, ASEAN, Saudi Arabia, and South Korea were ranked second to fifth, with import and export values continuing to grow. During the same period, Liaoning saw the highest growth in import and export value with Russia, reaching 23.4 billion yuan, an increase of 104.1%. Additionally, at this time, Liaoning’s imports and exports with countries along the Belt and Road saw an increase of 10.5% to reach 119.28 billion yuan, and its transactions with RCEP trading partners achieved 103.29 billion yuan.

Economic experts have pointed out that clothing, furniture, and home appliances were the “three former mainstay products” of China’s foreign trade. At present, the “three new high-tech products” are developing rapidly, providing sustained momentum for overall export growth. Considering market dynamics, the global community is increasingly prioritizing sustainable and low-carbon advancements, and the demand for electric vehicles, lithium batteries and solar cells persists to be vigorous in the international market. Given the advantageous industrial chain and supportive policy environment in Liaoning, it is anticipated that there will be substantial growth potential for the export of Liaoning’s “three new high-tech products” in the foreseeable future.