Shanghai Port Sees Two Digit Growth in Imports from US, Europe

Home>>Business

Last updated at: (Beijing Time) Monday, December 17, 2001

Shanghai Port Sees Two Digit Growth in Imports from US, Europe

China's major port of Shanghai had registered a two-digit growth in imports from Europe and the United States during the first 11 months of this year. Customs statistics have shown that about 11.95 billion U.S. dollars, and 6.22 billion U.S. dollars worth of goods had been imported through the port, up 28 percent and 17.2 percent, respectively.

Exports Grow Slower

The growth rate in exports through the port, however, were slower, with exports to Europe and the United States both bringing in 13 billion U.S. dollars, up by 12.5 percent and 11.1 percent, respectively.

China's exports to its largest overseas market Japan grew by 10.1 percent to 13.64 billion U.S. dollars.

Experts say exports through the port to the three overseas markets are expected to hover around 10 percent due to continuous sluggish market demand. The total value of integrated circuits and microelectronics parts was 3.21 billion U.S. dollars 40.1 percent above last year, and imported steel was up 9.8 percent to 1.36 billion U.S. dollars.

Foreign Trade Rises

As China's largest foreign trade port, Shanghai port handled 47. 95 billion U.S. dollars worth of imported goods during the first 11 months of this year, while the value of goods for export stood at 62.84 billion U.S. dollars, up 11.7 percent and 12.1 percent, respectively.

Shanghai Registered 17% Growth in Exports in the First Half of This Year

Shanghai exported 13.7 billion U. S. dollars worth of goods during the first half of this year, up 16.9 percent over the same period last year.

Shanghai's exports to Japan, Europe, the United States and Hong Kong grew by 16.5 percent, 27.2 percent, 13.7 percent and 38 percent. In addition, contracted foreign investment in 1,239 projects approved by the Shanghai Municipal government totaled 4.03 billion U.S. dollars, up 44.1 percent.

The value of exported high-tech products rose by 28.3 percent over the same period of last year, machinery and electronic products accounted for 52.7 percent of the export total.

Shanghai's Pudong Reports Foreign Trade Surge

Shanghai Port Reports Slower Growth in Processing Trade Import

Shanghai's Processing Imports Decline