Shanghai Port bilateral trade harbors rapid growth

26 May '08

2 min read

Latest Shanghai Customs statistics reveal that in the first four months of this year, foreign trade of Shanghai Port continued to flourish impressively. Total import and export volume reached US $193.97 billion, 24.6 percent higher than that of the same period last year. This also marked a 5.3 percentage point faster growth-rate as against the corresponding time of 2007.

Among them, exports were $122.49 billion, up 25.9 percent, recording 4.8 percentage points swifter increase. Meanwhile, imports stood at $71.48 billion, a rise of 22.4 percent and 6.1 percentage points higher growth-rate.

Export and import trade with the European Union, Japan, ASEAN and Africa indicated rapid growth, while exports to the US slowed down.

In the first four months of this year, the EU continued to remain largest trade partner for Shanghai Port. Import and export volume with this trade giant reached $43.34 billion, a surge of 29.5 percent, accounting for 22.3 percent of the total foreign trade from the port.

Import and export trade with the US registered $32.63 billion, up 13.4 percent, slow down of 5.7 percentage points in growth-rate, with exports plummeted, significantly.

At the same time, imports and exports with the third (ASEAN) and fourth (Japan) largest trade partners showed development trends, at $27.41 billion and $19.48 billion, climb of 21.2 percent and 31.6 percent, respectively.

In addition, bilateral trade with Africa scored $4.78 billion, a boost of 56.1 percent. Of this, exports were $3.85 billion, augmenting 38.5 percent and imports were $940 million, sky-rocketing 84.4 percent.

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