Slump in Shanghai's exports
By Cathy Ding |
August 15, 2012, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S exports posted the biggest fall in nearly three years in July, hurt by the worsening European economic crisis, data from Shanghai Customs showed yesterday.
The total value of the city's imports and exports in the first seven months rose 1.2 percent on an annual basis to US$462.7 billion, compared with a 2.4 percent climb in the first half, Shanghai Customs said.
In July, exports fell 8.6 percent from a year earlier to US$43.8 billion, the biggest drop since November 2009, while imports added 2.7 percent to USS$26.9 billion.
In the seven months ended July 31, exports edged up 0.7 percent to US$282.2 billion, and imports added 2.2 percent to US$180.5 billion.
Shanghai's trade with its largest partner, the European Union, fell 4.2 percent to US$96.7 billion over the period, with exports off 10.6 percent to US$54.8 billion due to the sluggish eurozone economy.
The city's trade with the US and Japan gained 4.8 percent and 0.9 percent respectively.
Imports and exports of high-tech products climbed 2.4 percent to US$58.6 billion, making up 36 percent of the overall trade value in the first seven months of this year.
The total value of the city's imports and exports in the first seven months rose 1.2 percent on an annual basis to US$462.7 billion, compared with a 2.4 percent climb in the first half, Shanghai Customs said.
In July, exports fell 8.6 percent from a year earlier to US$43.8 billion, the biggest drop since November 2009, while imports added 2.7 percent to USS$26.9 billion.
In the seven months ended July 31, exports edged up 0.7 percent to US$282.2 billion, and imports added 2.2 percent to US$180.5 billion.
Shanghai's trade with its largest partner, the European Union, fell 4.2 percent to US$96.7 billion over the period, with exports off 10.6 percent to US$54.8 billion due to the sluggish eurozone economy.
The city's trade with the US and Japan gained 4.8 percent and 0.9 percent respectively.
Imports and exports of high-tech products climbed 2.4 percent to US$58.6 billion, making up 36 percent of the overall trade value in the first seven months of this year.
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