China's Shanghai reports foreign trade growth in 2023

SHANGHAI -- Shanghai's imports and exports climbed to 4.21 trillion yuan (about $591.57 billion) in 2023, up 0.7 percent year-on-year, according to Shanghai Customs.

Last year, Shanghai's exports rose 1.6 percent year-on-year to 1.74 trillion yuan, and its imports increased 0.1 percent to 2.47 trillion yuan, data shows.

Shanghai's trade with the European Union amounted to 844.57 billion yuan, up 2.7 percent year-on-year and accounting for 20.1 percent of the city's total foreign trade volume during the period.

In 2023, Shanghai exported 167.79 billion yuan of emerging products such as electric passenger cars, lithium-ion batteries and solar cells, a year-on-year increase of 42.2 percent and accounting for 9.7 percent of the city's total export value.

Shanghai also imported 561.83 billion yuan of consumer goods last year, up 7.3 percent year-on-year and amounting to 22.7 percent of the city's total import value.