Foreign trade of Shanghai on the rise
Shanghai's imports and exports reached 1.05 trillion yuan (about 152.3 billion U.S. dollars) in the first quarter of this year, up 3.5 percent year on year, according to Xinhua.
Foreign trade of Shanghai on the rise
The Economics of Geography

Foreign trade of Shanghai on the rise

Photo: AFP/ImagineChina
Eurasia 25/04/2023 06:30

Shanghai's imports and exports reached 1.05 trillion yuan (about 152.3 billion U.S. dollars) in the first quarter of this year, up 3.5 percent year on year, according to Xinhua.

Over the period, Shanghai's imports rose 6.9 percent year on year to 639.32 billion yuan, while its exports dropped 1.4 percent to 407.78 billion yuan, data from Shanghai Customs showed, the article adds.

The city's trade with the European Union, its largest trading partner, reached 212.4 billion yuan, up 8.2 percent year on year, accounting for 20.3 percent of the city's total foreign trade volume in the first quarter, Xinhua notes.

Shanghai's trade with other members of the Regional Comprehensive Economic Partnership (RCEP) rose 3.6 percent and that with countries along the Belt and Road grew by 2.3 percent, accounting for 33.6 percent and 22.4 percent of the total, respectively, it adds.

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