Shenzhen Releases H1 2023 Vaping Export Data: Exports Reach RMB 26.2 Billion, Up 35.8%

On July 25, the Shenzhen Special Zone Daily reported that in the first half of 2023, Shenzhen's exports of e-cigarettes reached RMB 26.2 billion, a year-on-year increase of 35.8%. According to data from the General Administration of Customs of China, the national export of e-cigarettes in the first half of 2023 was RMB 37.78 billion, meaning that Shenzhen's e-cigarette exports accounted for 69.3% of the national total.

Here is the original text of the report:

Yesterday, reporters learned from Shenzhen Customs that in the first half of 2023, Shenzhen's total imports and exports reached RMB 1.68 trillion, a year-on-year increase of 3.7%, faster than the national average. Among them, exports were RMB 1.05 trillion, an increase of 14.4%; imports were RMB 628.49 billion.

The busy western port area reflects Shenzhen's economic prosperity.

Photo by Zhou Hongsheng, Shenzhen Special Zone Daily.

Overall, Shenzhen's imports and exports maintained a steady growth trend in the first half of the year, with strong economic resilience, great potential, and sufficient vitality, and the long-term positive fundamentals remain unchanged. Particularly in June, imports and exports reached RMB 322.97 billion, an increase of 5.3%, indicating further stabilization in foreign trade.

In the first half of the year, general trade accounted for more than half of Shenzhen's imports and exports, totaling RMB 878.72 billion, an increase of 6.8%, accounting for 52.4% of the total import and export value during the same period. During the same period, bonded logistics imports and exports were RMB 411.28 billion, an increase of 9.1%, 5.4 percentage points faster than the overall growth rate, accounting for 24.5%. Additionally, processing trade imports and exports were RMB 374.6 billion.

The scale of imports and exports by private enterprises continues to grow, becoming the main driving force behind foreign trade growth. Vibrant private enterprises, mainly small and micro enterprises, are continuously expanding, with Shenzhen's private enterprises' imports and exports reaching RMB 1.07 trillion, an increase of 9.2%, accounting for 64%, driving a 5.6 percentage point increase in Shenzhen's foreign trade during the same period. Foreign-invested enterprises and state-owned enterprises had imports and exports of RMB 498 billion and RMB 103.4 billion, respectively.

In the first half of the year, Shenzhen's imports and exports to its four major trading partners—Hong Kong, ASEAN, the EU, and the United States—were RMB 273 billion, RMB 256.41 billion, RMB 190.49 billion, and RMB 176.25 billion, respectively, with increases of 3.1%, 4.1%, 12.7%, and 2.7%, collectively accounting for over half, reaching 53.5%. Additionally, imports and exports to India, Australia, and the UK were RMB 37.73 billion, RMB 32.51 billion, and RMB 29.32 billion, with increases of 40.5%, 65.3%, and 16.9%, respectively, showing rapid growth. Furthermore, imports and exports to RCEP member countries totaled RMB 443.57 billion; imports and exports to countries and regions along the Belt and Road reached RMB 425.84 billion, an increase of 14.5%, accounting for 25.4%.

The busy Shekou Port. Photo provided by Shenzhen Customs.

Exports of electromechanical products accounted for over 70%, with rapid growth in labor-intensive products. In the first half of the year, Shenzhen exported electromechanical products worth RMB 784.88 billion, an increase of 9%, accounting for 74.9% of the total export value during the same period. New products such as lithium-ion batteries, electric passenger vehicles, and solar cells were exported for RMB 31.94 billion, RMB 8.07 billion, and RMB 1.39 billion, with increases of 36.3%, 943.2%, and 31.8%, respectively. During the same period, exports of labor-intensive products reached RMB 112.84 billion, an increase of 33.9%, accounting for 10.8%; all seven categories of labor-intensive products maintained growth, each exceeding RMB 10 billion. Additionally, e-cigarette exports reached RMB 26.2 billion, an increase of 35.8%.

On the import side, electromechanical products accounted for over three-quarters, with growth in gold and agricultural product imports. In the first half of the year, Shenzhen imported electromechanical products worth RMB 477.24 billion, accounting for 75.9% of the total import value during the same period. During the same period, gold imports were RMB 23.02 billion, an increase of 31.1%. Agricultural product imports were RMB 53.26 billion, an increase of 8.6%. Among them, imports of meat, edible aquatic products, and alcoholic beverages increased by 25.8%, 44.5%, and 28.1%, respectively.