Shanghai's foreign trade roars nearly 40%
By Ding Yining |
May 17, 2010, Monday
|
Print Edition
Print Edition
FOREIGN trade through Shanghai in the first four months expanded nearly 40 percent from the same period last year as domestic demand boosted imports.
Combined throughput from the city's ports totalled US$200.2 billion by the end of April, according to a statement from Shanghai Customs. The figure was a 3.4 percent rise from that of the same period in 2008, which suggested foreign trade has generally recovered from the global financial crisis.
Exports rose 28 percent to US$120.4 billion while imports jumped 56.8 percent to US$79.8 billion.
The city generated a trade surplus of US$40.6 billion, a drop of 5.9 percent from the same period last year.
Shanghai's manufacturers exported US$52.4 billion worth of goods in the first four months, a rise of 27.1 percent from a year ago.
The city's trade with emerging markets, including Southeast Asia, boomed while major markets including America and Europe still remained flat with uncertainties over economic recovery.
Trade with the Association of Southeast Asian Nations between January and April jumped an annual 59.2 percent to US$20.2 billion while that with the European Union dropped 2.7 percent and that with the US fell 3.8 percent.
Market watchers fear the European debt crisis may hit international trade and trade disputes may also escalate and create uncertainties.
China recorded a trade surplus of US$1.68 billion in April after imports ballooned 60 percent to US$419.9 billion while exports climbed 29.2 percent to US$436 billion.
Combined throughput from the city's ports totalled US$200.2 billion by the end of April, according to a statement from Shanghai Customs. The figure was a 3.4 percent rise from that of the same period in 2008, which suggested foreign trade has generally recovered from the global financial crisis.
Exports rose 28 percent to US$120.4 billion while imports jumped 56.8 percent to US$79.8 billion.
The city generated a trade surplus of US$40.6 billion, a drop of 5.9 percent from the same period last year.
Shanghai's manufacturers exported US$52.4 billion worth of goods in the first four months, a rise of 27.1 percent from a year ago.
The city's trade with emerging markets, including Southeast Asia, boomed while major markets including America and Europe still remained flat with uncertainties over economic recovery.
Trade with the Association of Southeast Asian Nations between January and April jumped an annual 59.2 percent to US$20.2 billion while that with the European Union dropped 2.7 percent and that with the US fell 3.8 percent.
Market watchers fear the European debt crisis may hit international trade and trade disputes may also escalate and create uncertainties.
China recorded a trade surplus of US$1.68 billion in April after imports ballooned 60 percent to US$419.9 billion while exports climbed 29.2 percent to US$436 billion.
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