Shanghai's foreign trade reached 796.57 billion yuan ($115.76 billion) in the first two months of 2026, marking a 23.1 percent year-on-year increase, according to Shanghai Customs.

This marks the 13th consecutive month of year-on-year growth in the city's foreign trade since. In February, Shanghai's imports and exports totaled 397.52 billion yuan, up 28.7 percent, the fastest single-month growth since 2011.

While consolidating established markets, Shanghai is exploring emerging ones, creating a more balanced and diversified trade portfolio.

In the first two months, trade with the European Union, Shanghai's largest trading partner, grew by 18.5 percent to 132.57 billion yuan.

Meanwhile, trade with ASEAN, the Middle East, and Africa reached 110.26 billion yuan, 26.93 billion yuan, and 26.22 billion yuan, up 21.8 percent, 15.6 percent, and 30.4 percent, respectively.

Shanghai's trade with the United States totaled 63.19 billion yuan, while the decline in exports to the US narrowed significantly to 0.7 percent.

New growth drivers, particularly high-tech and green products, showed strong export performance.

Exports of electric vehicles and lithium batteries surged 112.6 percent and 94.9 percent, respectively.

Exports of ship-to-shore cranes, high-voltage electrical equipment, and industrial robots increased 120.6 percent, 77.4 percent and 153.5 percent, respectively.

On the import side, demand for high-tech products and key components grew rapidly.

Imports of mechanical and electrical products rose by 14 percent. Imports of semiconductor manufacturing equipment, storage components, and central processing units increased by 43.9 percent, 100.8 percent, and 111.3 percent, respectively. Imports of aircraft components grew by 124.6 percent.

Driven by holiday restocking, imports of high-end consumer categories such as clothing, bags and shoes posted growth.

Source: Shanghai Observer