According to recent customs data, Shanghai, China’s economic hub, has witnessed a consistent recovery in its foreign trade this year.
During the first four months, the cumulative value of Shanghai’s foreign trade amounted to 1.39 trillion yuan, equivalent to approximately 198.1 billion U.S. dollars, reflecting a notable increase of 13.5 percent compared to the previous year.
A closer examination reveals that the export value reached 558.65 billion yuan, marking a significant year-on-year growth of 16.3 percent. Similarly, the import value experienced a rise of 11.6 percent, reaching 834.57 billion yuan.
In the month of April alone, Shanghai observed an impressive surge in imports and exports, with a substantial year-on-year increase of 57.9 percent, totaling 346.63 billion yuan.
During the initial four-month period, Shanghai’s exports of mechanical and electrical products amounted to 389.87 billion yuan, indicating a substantial year-on-year growth of 21 percent. This sector accounted for 69.8 percent of the city’s total export value.
Import-wise, consumer goods constituted 22.9 percent of the overall import value from January to April. This category experienced a promising year-on-year growth of 18.4 percent.