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Shenzhen Customs recently reported that the city’s foreign trade exports hit a new high this year, driven by strong domestic economic growth and a steady recovery in external market demand. In May alone, Shenzhen achieved foreign trade exports worth $16.39 billion, marking a 39.2% year-on-year increase—18.4 percentage points higher than the growth rate in April. This marks the fourth consecutive month of record-breaking export figures, with high-tech products leading the charge and becoming a standout feature.
For the first five months of this year, Shenzhen’s total foreign trade import and export volume reached $117.18 billion, up 26.5% compared to the same period last year. Exports totaled $67.57 billion, rising 19.5%, while imports climbed to $49.61 billion, an impressive 37.6% increase. These figures highlight the city’s growing role in China’s global trade landscape, with exports accounting for 11.9% of the nation’s total during the same period.
The surge in exports can be attributed largely to the rebound in external demand as the global economy stabilizes. In May, U.S. new orders increased, inventory levels declined, and employment improved, signaling stronger international demand. This trend has been particularly evident in processing trade, which saw a 45.1% year-on-year growth in May, pushing the total exports for the first five months to $36.89 billion—an increase of 16.5%. The growth rate accelerated by 7.2 percentage points compared to the previous four months, reinforcing Shenzhen’s position as a major export hub.
Exports to both the U.S. and EU also showed strong performance. In the first five months, Shenzhen exported $10.56 billion to the U.S. and $9.66 billion to the EU, representing increases of 11.2% and 24.3%, respectively. These figures were significantly higher than the growth rates recorded in the previous four months, showing a clear upward trend. Meanwhile, exports to Hong Kong, a key trading partner, reached $25.21 billion, up 22.7%.
High-tech exports have become a major driver of Shenzhen’s trade success. In May, exports of high-tech goods, including electronics and computer communication equipment, surged by 48.1%, outpacing the overall export growth by 8.9 percentage points. Products involving electronic and photonic technologies saw even more dramatic gains, with some categories increasing by over 40% and others doubling in value. This shift reflects the city’s progress in optimizing its export structure and moving toward higher-value industries.
In addition, mechanical and electrical product exports reached $51.79 billion in the first five months, up 21.9% year-on-year and accounting for 76.6% of Shenzhen’s total exports. This further underscores the city’s transition from traditional manufacturing to advanced industry.
However, challenges remain. The ongoing European sovereign debt crisis has begun to affect the region’s economy, and the RMB’s “passive appreciation†against the euro could negatively impact exports of labor-intensive goods to Europe. While exports of clothing and footwear still showed modest growth, their rates were lower than the overall export average. Meanwhile, luggage and plastic product exports declined sharply, indicating some vulnerabilities in certain sectors.
Overall, Shenzhen’s foreign trade continues to show resilience and adaptability, with high-tech exports leading the way. As the city moves toward becoming a “strong export city,†it is well-positioned to navigate global market fluctuations and maintain its competitive edge in international trade.
August 16, 2025