Shanghai's exports get boost from ASEAN
By Richard Fu |
April 14, 2011, Thursday
|
Print Edition
Print Edition
SHANGHAI'S exports surged 20 percent year on year to US$45.81 billion in the first quarter as the strong ASEAN markets offset lower demand in Europe and the Middle East.
The city's exports to the 10-member Association of Southeast Asian Nations gained 24.3 percent to US$4.66 billion, according to customs data cited by Xinhua news agency, which attributed the increase to the ASEAN-China Free Trade Area, which came into effect on January 1 last year.
However, Shanghai's exports to the European Union fell 1.97 percent to US$9.21 billion while shipments to the Middle East declined 2.8 percent to US$1.36 billion.
The decline was due to the debt crisis in some European nations and the unrest in the Middle East, Xinhua cited a Shanghai Commerce Commission expert as saying.
The city's exports to Africa increased 8 percent to US$1.09 billion but it was a slowdown from double-digit growth in the past as the upheavals in Egypt and Libya were a factor.
The city's exports to the 10-member Association of Southeast Asian Nations gained 24.3 percent to US$4.66 billion, according to customs data cited by Xinhua news agency, which attributed the increase to the ASEAN-China Free Trade Area, which came into effect on January 1 last year.
However, Shanghai's exports to the European Union fell 1.97 percent to US$9.21 billion while shipments to the Middle East declined 2.8 percent to US$1.36 billion.
The decline was due to the debt crisis in some European nations and the unrest in the Middle East, Xinhua cited a Shanghai Commerce Commission expert as saying.
The city's exports to Africa increased 8 percent to US$1.09 billion but it was a slowdown from double-digit growth in the past as the upheavals in Egypt and Libya were a factor.
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