In the first eleven months of this year, the total import and export value of Shanghai reached 3.88 trillion yuan.

On December 20, The Paper reported that according to statistics from Shanghai Customs, the total import and export value of Shanghai in the first 11 months of 2024 reached 3.88 trillion yuan, an increase of 0.3% compared to the same period last year. Exports amounted to 1.64 trillion yuan, growing by 3.4%, while imports totaled 2.24 trillion yuan, a decrease of 1.8%. The trade deficit narrowed by 13.8% to 591.29 billion yuan.

General trade accounted for nearly 60% of the total import and export value. In the first 11 months, Shanghai’s general trade imports and exports reached 2.3 trillion yuan, an increase of 0.2%, making up 59.3% of the total. During the same period, processing trade accounted for 536.59 billion yuan, growing by 0.5%, which represented 13.8%. Additionally, bonded logistics accounted for 1.01 trillion yuan, a decrease of 0.2%.

Private enterprises saw stable growth in imports and exports. In the first 11 months, private enterprises in Shanghai had an import and export value of 1.3 trillion yuan, an increase of 8.5%, raising their share by 0.3 percentage points to 33.5%. State-owned enterprises reported 401.86 billion yuan in imports and exports, growing by 3.6%, accounting for 10.4%. Meanwhile, foreign-funded enterprises had an import and export value of 2.17 trillion yuan, a decrease of 4.3%, making up 56.1%.

Imports and exports with ASEAN and Belt and Road Initiative countries increased. In the first 11 months, Shanghai’s trade with its largest trading partner, the European Union, reached 731.81 billion yuan, a decrease of 5.4%, with the decline narrowing by 0.7 percentage points compared to the previous 10 months. Trade with ASEAN and the United States amounted to 519.15 billion yuan and 435.96 billion yuan, respectively, growing by 4% and decreasing by 1.4%. During the same period, trade with Belt and Road Initiative countries reached 1.49 trillion yuan, an increase of 4.3%, raising its share by 1.5 percentage points to 38.6%.

Exports of electromechanical products showed steady growth. In the first 11 months, Shanghai exported electromechanical products worth 1.12 trillion yuan, an increase of 2%, accounting for 68.4% of the total export value. This included exports of automatic data processing equipment and its parts worth 133.59 billion yuan, growing by 9.1%, and ship exports worth 58.7 billion yuan, increasing by 59.6%. Additionally, labor-intensive products were exported for 175.74 billion yuan, an increase of 7.6%. Among these, textiles and clothing, plastic products, and furniture were exported for 105.18 billion yuan, 34.51 billion yuan, and 15.56 billion yuan, respectively, growing by 5.4%, 12.8%, and 15.4%.

In the first 11 months, Shanghai imported electromechanical products worth 966.42 billion yuan, an increase of 0.8%, accounting for 43.3% of the total import value. This included imports of integrated circuits worth 252.7 billion yuan, growing by 0.4%. During the same period, imports of medicinal materials and pharmaceuticals reached 114.63 billion yuan, an increase of 2.7%. Additionally, iron ore imports totaled 197 million tons, an increase of 22.5%, valued at 146.34 billion yuan, growing by 18.1%.