Shanghai has continued its upward trajectory in foreign trade, recording a total import and export volume of 1.75 trillion yuan (approximately $24.07 billion) from January to May.

According to the Shanghai Municipal Bureau of Statistics, these figures mark a commendable 0.8 percent increase compared to the same period last year, shedding light on the city's resilient trade performance amidst evolving global economic landscapes.

Breaking down the numbers, exports accounted for 706.21 billion yuan of the city’s total, reflecting a solid 1 percent increase, while imports totaled 104 billion yuan, showing a steady 0.6 percent uptick.

Delving deeper into the realm of business entities, a nuanced picture has emerged: State-owned enterprises in Shanghai recorded an export value of 68.4 billion yuan, showcasing a robust 18.8 percent year-on-year growth, with their imports amounted to 131.99 billion yuan, marking a notable 10.3 percent increase. Private enterprises contributed significantly as well, with exports totaling 290 billion yuan, up by 4.1 percent, and imports reaching 256.24 billion yuan, up by 0.8 percent. However, foreign-invested enterprises experienced a slight dip in both exports and imports during this period, down by 3.5 percent and 1.2 percent respectively.

Examining the trade modes, Shanghai's general trade sector saw exports of 393.18 billion yuan, up by 3.1 percent, and imports of 660.98 billion yuan, which marked a marginal decline of 0.1 percent. Meanwhile, processing trade exports stood at 159.79 billion yuan, down by 1.8 percent, with imports amounting to 72.41 billion yuan, a notable decline of 7.0 percent.

In terms of major trade products, electromechanical products emerged as a cornerstone of Shanghai's trade landscape, with exports totaling 492.74 billion yuan, up by 1 percent, and imports amounting to 418.65 billion yuan, up by 1.8 percent. High-tech products, while witnessing a decrease of 2.9 percent, totaling 221.75 billion yuan, has experienced a surge of 8 percent in its import business, reaching 300.66 billion yuan.

Source: Shanghai Security News, cnstock.com