Shanghai sees foreign trade growth in first three quarters

SHANGHAI -- Shanghai's imports and exports reached 3.17 trillion yuan (about $441.6 billion) in the first three quarters of this year, up 2.7 percent year on year, according to local customs.

Over this period, Shanghai's exports rose 3.9 percent year on year to 1.3 trillion yuan, while its imports increased by 1.8 percent to 1.87 trillion yuan, data from Shanghai Customs showed.

Shanghai's trade with the European Union amounted to 638.23 billion yuan, up 5.4 percent year on year, accounting for 20.2 percent of its total foreign trade volume during the period.

In the first three quarters of 2023, Shanghai exported 130.37 billion yuan of emerging products, including electric vehicles, lithium batteries and solar cells, a year-on-year increase of 79.5 percent, accounting for 10 percent of the city's total export value.

Meanwhile, Shanghai imported 422.23 billion yuan of consumer goods, up 9 percent year on year, amounting to 22.6 percent of the city's total import value.