Shanghai’s skyline near the Huangpu River. [Photo/China Daily]
Shanghai’s total import and export value reached 3.88 trillion yuan ($531.57 billion) in the first 11 months of 2024, marking a 0.3 percent year-on-year increase, according to Shanghai Customs.
The steady performance was driven by a 3.4 percent growth in exports, reaching 1.64 trillion yuan, while imports experienced a slight decline of 1.8 percent, which stood at 2.24 trillion yuan.
General trade continued to dominate Shanghai’s trade structure, accounting for 59.3 percent of the total value, reaching 2.3 trillion yuan.
The European Union, ASEAN, and the United States remained Shanghai’s top three trading partners, with trade values reaching 731.81 billion yuan, 519.15 billion yuan, and 435.96 billion yuan, respectively.
Notably, export of mechanical and electrical products remained strong, constituting 68.4 percent of Shanghai’s total exports, while integrated circuits remained the largest imported commodity, with a value of 252.7 billion yuan in the first 11 months.
Shanghai also witnessed remarkable growth in specific sectors, such as shipbuilding, with exports surging by 59.6 percent, adding up to 58.7 billion yuan.
Cross-border e-commerce continued its upward trend, with 476 million parcels of goods exported via Pudong Airport customs in the first 11 months, averaging 1.42 million parcels per day. The total value of these exports, mainly destined for the United States, Europe, and Japan, reached 71.66 billion yuan, a significant 20.2 percent increase year-on-year.
Source: Jiefang Daily
,https://english.shanghai.gov.cn/en-Latest-WhatsNew/20241224/002f37c98df74f5cb8c5078acc1dbb22.html