Shanghai's total foreign trade reached 1.23 trillion yuan ($180.16 billion) in the first quarter, marking a 21.9 percent year-on-year increase.

Exports rose 16.3 percent to 537.37 billion yuan, extending the growth streak to 18 months, while imports grew by 26.6 percent to 690.03 billion yuan.

High-tech and green products remained key drivers of export growth. The export value of the "new three" products — electric vehicles, lithium-ion batteries, and solar cells — surged to 56.52 billion yuan, up more than 120 percent year-on-year.

High-end equipment exports climbed 50.2 percent to 39.9 billion yuan, led by strong growth in ships, offshore engineering equipment, and ship-to-shore cranes.

Exports of intelligent products surged, with integrated circuits and computer components rising by nearly 70 percent. Meanwhile, exports of industrial robots and surgical robots doubled.

Electric vehicle exports soared to 37.89 billion yuan, a 135.4 percent year-on-year increase.

On the import side, purchases of semiconductor manufacturing equipment and numerically controlled machine tools grew by 36.3 percent and 25 percent, respectively.

Imports of edible oil, aquatic products, and alcoholic beverages also posted double-digit growth.

Shanghai's trade network continued to expand, with imports and exports growing across 126 countries and regions. The number of trading partners with a trade volume exceeding 10 billion yuan increased to 29.

Trade with developed markets, including the European Union, Japan, and South Korea, maintained strong momentum, rising by more than 30 percent. Trade with emerging markets such as the Association of Southeast Asian Nations, Latin America, and Africa grew by 16.4 percent, 16.9 percent, and 23.5 percent, respectively.

Source: Shanghai Observer