SHANGHAI – Shanghai”s foreign trade grew by 5.9 percent year-on-year to reach 312.51 billion yuan ($46.25 billion) in August, with its exports and imports both registering robust increases, the city’s customs said on Friday.
Among the trade, exports totaled 121.87 billion yuan, up by 5.8 percent year-on-year. Imports notched up 190.64 billion yuan, up by 5.9 percent.
In the first eight months of this year, Shanghai achieved a total import and export volume of 2.19 trillion yuan, up by 0.5 percent year-on-year.
The European Union, Shanghai’s largest trading partner, reported imports and exports totaling over 417.7 billion yuan between Jan-Aug, accounting for 19 percent of the city’s total foreign trade.
Shanghai’s exports mainly consist of mechanical and electrical products, accounting for 67.8 percent of the city’s total export volume in the first eight months.
The city also reported varying strong growth in imports of high-tech products, cosmetics, and meat, during the period.