Shanghai's imports and exports maintained growth for the 16th consecutive month

According to the latest statistics of Shanghai Customs, imports and exports in September were 351.62 billion yuan, maintaining growth for the 16th consecutive month; in the first three quarters of this year, Shanghai achieved a total import and export value of 2.92 trillion yuan, an increase of 15.4% over the same period last year. Among them, exports were 1.1 trillion yuan, an increase of 9.9%; imports were 1.82 trillion yuan, an increase of 19.1%; and the trade deficit was 711.16 billion yuan, an increase of 36.8%.

Image source: Oriental IC

Specifically, the city's foreign trade mainly presents the following characteristics -

The scale of quarterly imports and exports has expanded quarter by quarter. From a quarterly point of view, the total value of Shanghai's foreign trade imports and exports in the first quarter, the second quarter and the third quarter of this year was 879.16 billion, 1006.08 billion yuan and 1038.41 billion yuan respectively, an increase of 16.2%, 21.9% and 9.2% respectively. From a monthly point of view, the import and export in September was 351.62 billion yuan, an increase of 4.4% year-on-year, maintaining growth for the 16th consecutive month, affected by the higher base factors in September last year, and the growth rate fell by 10 percentage points from August.

The dominance of general trade imports and exports has increased. In the first three quarters of this year, Shanghai imported and exported 1.69 trillion yuan in general trade, an increase of 24.5%, accounting for 57.9% of shanghai's total import and export value in the same period, an increase of 4.2 percentage points. Among them, exports were 564.69 billion yuan, an increase of 19.7%; imports were 1.13 trillion yuan, an increase of 27.1%. In the same period, the import and export of bonded logistics was 708.9 billion yuan, an increase of 12.7%, accounting for 24.2%.

Foreign-invested enterprises accounted for more than 60% of imports and exports. In the first three quarters of this year, the import and export of foreign-invested enterprises in Shanghai amounted to 1.8 trillion yuan, an increase of 10%, accounting for 61.4% of the total import and export value of Shanghai in the same period. Among them, exports were 634.13 billion yuan, an increase of 4.4%; imports were 1.16 trillion yuan, an increase of 13.4%. In the same period, the import and export of private enterprises was 794.79 billion yuan, an increase of 32%, accounting for 27.2%; the import and export of state-owned enterprises was 330.86 billion yuan, an increase of 12%, accounting for 11.3%.

The proportion of imports and exports to countries along the "Belt and Road" has increased. In the first three quarters of this year, Shanghai's imports and exports to the EU, the largest trading partner, amounted to 586.9 billion yuan, an increase of 20.3%, accounting for 20.1% of Shanghai's total import and export value in the same period. In the same period, imports and exports to ASEAN amounted to 391.93 billion yuan, an increase of 11.2%, accounting for 13.4%; imports and exports to the United States were 359.49 billion yuan, an increase of 0.9%, accounting for 12.3%; imports and exports to Japan were 298.87 billion yuan, an increase of 6.4%, accounting for 10.2%. The total import and export of countries along the "Belt and Road" was 656.34 billion yuan, an increase of 17.3%, accounting for 22.4%, and the proportion increased by 0.4 percentage points.

Exports of automobiles, containers and container ships have doubled. In the first three quarters of this year, Shanghai exported mechanical and electrical products of 753.63 billion yuan, an increase of 9.9%, accounting for 68.1% of Shanghai's total export value in the same period. Among them, the export of integrated circuits increased by 9.8%; the exports of automobiles, containers and container ships increased by 224%, 448.8% and 646.2% respectively. In the same period, the export of labor-intensive products was 139.42 billion yuan, down 7.7%, accounting for 12.6%; steel exports were 23.09 billion yuan, an increase of 47.5%.

Imports of consumer goods grew faster than overall. In the first three quarters of this year, Shanghai imported 540.52 billion yuan of high-tech products, an increase of 8.5%, accounting for 29.7% of Shanghai's total import value in the same period. In the same period, imported consumer goods were 386.29 billion yuan, an increase of 19.8%, higher than the overall growth rate of imports in Shanghai by 0.7 percentage points, accounting for 21.3%, and the proportion increased by 0.2 percentage points. Among them, the import value of passenger cars, clothing, bags, clocks and watches, jewelry and art increased by 27.8%, 46.9%, 60.1%, 54.7%, 71.1% and 260% respectively. In addition, the import values of iron ore, primary shape plastics and natural gas increased by 68.8%, 19.7% and 54.9% respectively.