Economy > Trade

Shanghai's foreign trade continues to expand

Xinhua News,SHANGHAI
2020-08-20 16:03

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SHANGHAI, Aug. 20 (Xinhua) -- Shanghai's foreign trade grew 1.3 percent year on year to reach 299.29 billion yuan (around 43.2 billion U.S. dollars) in July, the city's customs said.

It was the second month after June when the city first saw an increase of 4.9 percent in foreign trade this year since the outbreak of COVID-19, which indicates Shanghai has been overcoming the difficulties brought to its foreign trade by the pandemic in terms of the international market access and a disrupted global supply chain.

In the first seven months of this year, Shanghai achieved a total import and export volume of 1.88 trillion yuan, down 0.4 percent year on year.

The European Union continues to be Shanghai's largest trading partner, with imports and exports totaling over 358.38 billion yuan from January to July, accounting for 19.1 percent of the city's foreign trade.

Shanghai's exports mainly consist of mechanical and electrical products, accounting for 67.7 percent of the city's total export volume in the first seven months.

The city reported varying increases in imports of high-tech products, cosmetics and meat during the period.
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