Shanghai Foreign Trade Up 10.2 Percent in 2001

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Last updated at: (Beijing Time) Thursday, January 10, 2002

Shanghai Foreign Trade Up 10.2 Percent in 2001

Exports and imports in this east China's metropolis increased dramatically in 2001, local customs said.

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Exports and imports in this east China's metropolis increased dramatically in 2001, local customs said.

Exports and imports accounted for a quarter of the national total, reaching approximately 120.5 billion US dollars, up 10.2 percent over the previous year.

Statistics show that last year shanghai's exports amounted to 68.007 billion US dollars, and imports, 52.481 billion US dollars,up 10.5 and 9.9 percent respectively.

However processing trade imports were up by only 0.5 percent due to shrinking global market demand and steel exports amounted to 620 million US dollars, down 23.2 percent.

Exports to Asian countries, European countries and North America, grew by over 9.3 percent. In addition, exports to Africa and Latin America grew by 20.5 and 24.7 percent respectively.

Exports of 30.9 billion US dollars by state-owned businesses showed a 3.5 percent growth, while foreign-funded businesses managed an export increase of 12.7 percent, reaching 31.34 billionUS dollars.

Foreign-funded business imports amounted to 4.746 billion US dollars, up 17.9 percent, in keeping with a huge influx of direct foreign investment into the booming city.

Meanwhile, imports from European countries and the United states grew by 24.7 and 16.1 percent respectively.

Mechanical and electronic products had the largest volume of exports and imports in 2001.

Shanghai's Booming District Posts 22 Percent Growth in Foreign Trade