According to Shanghai Customs, the city's import-export trade totaled 3.17 trillion yuan ($444.66 billion) in the first three quarters of the year, an increase of 0.03 percent year-on-year.

The processing trade, a key area, has shown a steady reduction in its decline. From January to September, the value of processing trade reached 432.02 billion yuan, down by 0.2 percent, with the rate of decline narrowing by 2 percentage points compared to the first eight months.

This segment has now seen growth for three consecutive months.

Trade with the European Union, the United States and Japan decreased during the period, while trade with ASEAN countries rose by 5.6 percent, reaching 422.07 billion yuan.

Meanwhile, trade with countries involved in the Belt and Road Initiative grew by 4.4 percent to 1.13 trillion yuan.

With the expansion of BRICS to 10 member states in January, Shanghai's trade with other BRICS members rose 5.4 percent, totaling 747.76 billion yuan.

High-tech products, including electric vehicles, were strong contributors, with EV exports surging a whopping 296 percent.

Bulk commodity imports rose by 8.2 percent, driven by raw materials, with iron ore up by 19.7 percent, coal up by 33.9 percent and natural gas up by 8.5 percent.