Shanghai reported robust foreign trade figures for the first three quarters of 2025, with total imports and exports rising 5.4 percent year-on-year to 3.34 trillion yuan ($468.87 billion), outpacing the national growth rate by 1.4 percentage points, according to data released by the city government on Oct 22.

The city's strong performance, particularly in the third quarter, which saw record-breaking figures for both the quarter and the month of September, underscores its resilience amid a complex global economic landscape. Exports served as a primary driver, growing by 11.3 percent year-on-year, exceeding the national rate by 4.2 percentage points.

Shanghai's export surge has been closely linked to rising industrial manufacturing output, driven by three leading sectors: integrated circuits, artificial intelligence, and biomedicine, as well as the broader development of high-end and green manufacturing.

Exports of these three key industries reached 193.67 billion yuan in the first three quarters, up 10.3 percent. Pharmaceuticals and active pharmaceutical ingredients also saw strong growth, with exports climbing 21.5 percent and 40.7 percent, respectively.

The high-end manufacturing sector demonstrated strong momentum, with exports of industrial robots, aerospace equipment, high-end machine tools, and petrochemical machinery increasing by 41.6 percent, 39 percent, 36.5 percent, and 29.6 percent, respectively.

New energy products also played a crucial role, with exports of the "new three", namely electric vehicles, lithium batteries, and solar batteries, growing by 6.3 percent to exceed 100 billion yuan.

Specifically, lithium battery exports rose by 20.7 percent to 32.15 billion yuan, driven by the production of Tesla's energy storage plant.

In addition to exports, Shanghai's imports showed a steady recovery, growing from a 12.5 percent decline in the first quarter to a 10.9 percent increase in the third quarter.

The city is also diversifying its trade partners. While trade with the European Union and the United States decreased, Shanghai saw significant increases in exports to other BRICS member countries and African nations.

Exports to other BRICS member countries grew by 27.7 percent to 204.63 billion yuan, and exports to African countries increased by 79.2 percent to 64.55 billion yuan.

Private enterprises further strengthened their role in Shanghai's foreign trade, with imports and exports surging by 27.1 percent to 1.32 trillion yuan in the first three quarters. They contributed to 164.5 percent of Shanghai's overall trade growth, accounting for nearly 40 percent of the city's total foreign trade volume, up 6.7 percentage points year-on-year.

Source: Jiefang Daily