Shanghai customs January trade value sets new high

SHANGHAI customs scored a new high of US$48.2 billion in January in the trade value, up 31.4 per cent year on year in the third straight month of growth, reports Logistics Week.

Shanghai's trade with European Union was up 20.6 per cent, up 15 per cent with the US and up 19.6 per cent with Japan. January was the first month since the formal establishment of the China-ASEAN Free Trade Zone, and January value soared 62.2 per cent with the trading bloc members over January, 2009.

But exports of electro-mechanical products valued at $18 billion were down 1.9 per cent compared to the same month in 2008, well before the downturn, but up 23.2 per cent against 2009. Imports of high-tech products surged 3.8 per cent year on year.

(Source: Sea Trade Asia)