Shanghai's foreign trade value has been growing at a slower rate during the first half of the year compared to the same period a year ago, reports Logistics Week.
Figures from Shanghai customs showed, from January to June, the cumulative foreign trade value of the city increased by 17.3 per cent year on year to US$233.4 billion. Export value rose 18.1 per cent to $145.5 billion, with the growth rate down 8.3 per cent over the first half of 2006. Import value rose to $87.8 billion at a rate of 16 per cent, which was 1.6 per cent slower year on year.
The value of the processing trade rose by 9.8 per cent to $97.56 billion, which was down by 16.1 per cent. Export value rose 12.5 per cent to $66.79 billion, 17 per cent slower than the first half of last year. Import value went up by 4.5 per cent to $30.7 billion, 19.3 per cent slower than before.
The value of general trade totalled to $106.8 billion, growing by 21.8 per cent. Export value jumped 21.3 per cent to $73.56 billion. Import value rose to $33.27 billion at a speed of 22.9 per cent, which was 11 per cent faster than the same period a year ago.
Trade with Europe amounted to $49.56 billion, growing by 23.8 per cent, which had a 3.2 per cent faster growth rate year on year. Export value jumped 24.4 per cent to $33.17 billion. Imports were valued at $16.39 billion, up 22.8 per cent.
The US was the largest market for export cargo. During the reporting period, the value of cargo exported from Shanghai to the US amounted to $34.07 billion, up 16.2 per cent, but had a 12.4 per cent slower growth rate year on year. Imports from the US to Shanghai were valued at $9.29 billion, up 13.4 per cent, but had a 9.5 per cent slower growth rate.
Most of Shanghai's imports were from Japan. During this period, imports from Japan into Shanghai amounted to $16.46 billion, up by 13.1 per cent, 6.6 per cent slower. Exports from Shanghai to Japan were valued at $16.85 billion, rising by 4.4 per cent 8.9 per cent slower.
Exports from Shanghai to Asean member nations were valued at $11.7 billion, up by 17.1 per cent, 12.4 down on the same period a year ago. Imports from Asean to Shanghai increased to $10.83 billion at a speed of 7.9 per cent, a 14.7 per cent slower growth rate year on year.
Slower growth was also experienced in the export of mechanical and electrical products, textiles, furniture and spare parts. While the import of raw materials such as steel and copper increased at a faster rate than in the corresponding period in 2006.
Figures from Shanghai customs showed, from January to June, the cumulative foreign trade value of the city increased by 17.3 per cent year on year to US$233.4 billion. Export value rose 18.1 per cent to $145.5 billion, with the growth rate down 8.3 per cent over the first half of 2006. Import value rose to $87.8 billion at a rate of 16 per cent, which was 1.6 per cent slower year on year.
The value of the processing trade rose by 9.8 per cent to $97.56 billion, which was down by 16.1 per cent. Export value rose 12.5 per cent to $66.79 billion, 17 per cent slower than the first half of last year. Import value went up by 4.5 per cent to $30.7 billion, 19.3 per cent slower than before.
The value of general trade totalled to $106.8 billion, growing by 21.8 per cent. Export value jumped 21.3 per cent to $73.56 billion. Import value rose to $33.27 billion at a speed of 22.9 per cent, which was 11 per cent faster than the same period a year ago.
Trade with Europe amounted to $49.56 billion, growing by 23.8 per cent, which had a 3.2 per cent faster growth rate year on year. Export value jumped 24.4 per cent to $33.17 billion. Imports were valued at $16.39 billion, up 22.8 per cent.
The US was the largest market for export cargo. During the reporting period, the value of cargo exported from Shanghai to the US amounted to $34.07 billion, up 16.2 per cent, but had a 12.4 per cent slower growth rate year on year. Imports from the US to Shanghai were valued at $9.29 billion, up 13.4 per cent, but had a 9.5 per cent slower growth rate.
Most of Shanghai's imports were from Japan. During this period, imports from Japan into Shanghai amounted to $16.46 billion, up by 13.1 per cent, 6.6 per cent slower. Exports from Shanghai to Japan were valued at $16.85 billion, rising by 4.4 per cent 8.9 per cent slower.
Exports from Shanghai to Asean member nations were valued at $11.7 billion, up by 17.1 per cent, 12.4 down on the same period a year ago. Imports from Asean to Shanghai increased to $10.83 billion at a speed of 7.9 per cent, a 14.7 per cent slower growth rate year on year.
Slower growth was also experienced in the export of mechanical and electrical products, textiles, furniture and spare parts. While the import of raw materials such as steel and copper increased at a faster rate than in the corresponding period in 2006.