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Shanghai's foreign trade down 6% in Aug

Sep. 14, 2012 (China Knowledge) - Shanghai saw its foreign trade value decreased 6% YoY or 3.3% MoM to US$68.41 billion in August this year, according the latest statistics released by the Shanghai Customs.

Last month, the city's export value declined 6.6% YoY or 4.4% MoM to US$41.84 billion, while its import value dropped 4.9% from a year earlier to US$26.56 billion.

In the first eight months of this year, the city's foreign trade value totaled US$531.09 billion, reflecting a YoY increase of 0.3%.

The city saw its export value decreased 0.3% YoY to US$324.02 billion in the eight-month period, while its import value grew 1.2% YoY to US$207.07 billion.

The export value of mechanical and electronic products increased 0.3% YoY to US$188.1 billion in the first eight months of this year, while the exports of labor-intensive goods reached US$79.37 billion, down 1.8% from the same period of last year.

From January to August, Shanghai's foreign trade with the E.U., its largest trade partner, decreased 5.4% YoY to US$111.05 billion, including US$62.82 billion in export value, down 12% YoY.

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