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Foreign trade soars 48.2% in Shanghai Imports and exports of Shanghai have seen a record-high increase in the first four months of 2004. According to the Shanghai Customs, from January to April, Shanghai's foreign trade totaled US$84.59 billion, up 48.2 percent over the same period last year. Its imports reached US$38.17 billion and exports US$46.42 billion, up 51.1 and 45.9 percent respectively, year on year. The most increase on imports was attributed by raw copper, raw cotton and ferrous ores, while increase on exports was mostly realized in electromechanical products and light industrial products like clothes and shoes. Foreign-invested enterprises were the biggest contributor to foreign trade, which imported and exported a total of US$52.87 billion worth of goods through the customs, 62.5 percent of the total volume and up 61.1 percent year-on-year. The European Union was the top trading partner of Shanghai, realizing US$16.35 billion in the first four months. Other major trading partners included Japan, the United States and the Republic of Korea. |
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