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Shanghai's trade deficit hits record US$17.86 bln in 2011

Jan. 30, 2012 (China Knowledge) - Shanghai saw its trade deficit increase 145% year on year to a record US$17.86 billion in 2011, according to the latest statistics released by the Shanghai Customs.

The trade deficit last year was US$2.36 billion more than the previous record set in 2003.
Shanghai's export value rose 16% year on year to US$209.79 billion last year.

Last year, the city's import value rose 21% year on year to US$227.65 billion, taking its foreign trade to a total of US$437.44 billion, 18.6% more than that in 2010.

Shanghai's general trade grew 18.6% year on year to US$184.94 billion last year, and its processing trade increased to US$151.38 billion.

Last year, Shanghai's trade with the E.U., the U.S. and Japan were up 18.4%, 13.7% and 16.1% year on year, respectively. The city's trade with the ASEAN member countries, South Africa and Australia booked notable grow of 23.9%, 34.2% and 31.6% year on year, respectively.

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