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Shanghai-EU trade hit US$17 billion in January
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Shanghai Customs registered 103.77 billion yuan (US$17.04 billion) of goods to and from the European Union in January, a year-on-year increase of 17.6 percent. The figure represents 21 percent of the city’s total imports and exports and hit the 100 billion yuan mark for the first time in 29 months.
Shanghai’s exports to the EU countries grew 16.2 percent last month to 60.6 billion yuan, 19.8 percent of total exports, while its imports jumped 19.6 percent to 43.17 billion yuan, 23 percent of total imports.
Economic recovery in the Eurozone, a stable growth of the domestic economy, and closer ties between China and Europe were cited as reasons for Shanghai’s growing trade with the EU in January.
Germany remains the city’s biggest trading partner in Europe with bilateral trade rising 9.7 percent to 27.85 billion yuan in January, 26.8 percent of the city’s total trade with the EU.
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