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Shanghai's exports down 20.22% M-O-M in Feb

Mar. 26, 2012 (China Knowledge) - Shanghai saw its export value rise 21.6% year on year but fall 20.22% month on month to US$13.30 billion in February this year, according to the latest statistics released by the Shanghai Statistics Bureau.

Last month, the city's imports rose 38.5% year on year and 23.81% month on month to US$13.30 billion, taking its foreign trade to a total of US$32.01 billion in the month, 31% more than that in the same period of last year.

The bureau said the sharp year-on-year increases in exports and foreign trade last month was due to low comparison recorded in February 2011 when the Lunar Chinese New Year holiday fell into.

The value of both exports and imports under general trade was US$4.05 billion and US$8.80 billion last month, up 7.8% and 43.9% year on year, respectively, and the value of both exports and imports under processing trade was US$7.29 billion and US$3.01 billion, up 23.5% and 14.7% year on year, respectively.

The export value of mechanical and electronic products increased 25.8% year on year to US$9.89 billion in February, while the import value of such products was US$9.98 billion, up 35.5% from the same month of last year.

The city's high-tech products exports increased 26.9% year on year to US$6.53 billion, and its imports of such products rose 36.7% year on year to US$5.97 billion, respectively.

Last month, Shanghai's exports to the U.S., the E.U. and Japan were US$3.19 billion, US$2.65 billion and US$1.63 billion, up 25%, 24.5% and 19.3% year on year, respectively.

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