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Shanghai's import, export volume grows


Shanghai's total import and export reached 3.15 trillion yuan (US$463.24 billion) in the first 11 months of this year, rising 2.2 percent over the same period last year, according to the latest statistics released by Shanghai Customs.

Shanghai's exports were valued at 1.25 trillion yuan, an increase of 0.5 percent, while imports were 1.9 trillion yuan, rising 3.4 percent.

In the first 11 months of this year, foreign-invested enterprises in Shanghai made the largest deals, achieving an import and export volume of 2.04 trillion yuan, accounting for 64.6 percent of Shanghai's total import and export during the period.

The imports and exports of private enterprises and state-owned enterprises in Shanghai accounted for 24 percent and 11.4 percent, respectively. So both the import and export volume of foreign and private enterprises has increased despite the impact of the COVID-19 pandemic globally.

Shanghai's import and export to the European Union, the United States, ASEAN and Japan were the highest among major trade partners, accounting for 19.7 percent, 14 percent, 13.8 percent and 10.9 percent, respectively.

In the first 11 months of this year, Shanghai's imports and exports to major trading partners maintained growth, with imports and exports to the US increasing the most, a 6.9 percent gain. Imports and exports to ASEAN grew slightly weaker by 2.4 percent.

As for major import and export products, electromechanical products maintained the largest share of exports. In the first 11 months, Shanghai exported 857.8 billion yuan of mechanical and electrical products, an increase of 0.5 percent, and accounting for 68.8 percent of Shanghai's total export value during the period.

Automobile exports also performed well, reaching 16.7 billion yuan, an increase of 43.7 percent. In terms of imports, integrated circuits were still the largest category of imported goods, with imports of 270.33 billion yuan, up 13.7 percent. Imports of cosmetics, toiletries, and meat also achieved double-digit growth.