SHANGHAI Customs recorded a year-on-year decline of 0.9 per cent in its foreign trade value to US$184.19 billion and its "first decline in many years" to the EU..
Shanghai suffers first trade value drop to European Union in years SHANGHAI Customs, which processes 20 per cent of China's trade, recorded a year-on-year decline of 0.9 per cent in its foreign trade value to US$184.19 billion and its "first decline in many years" to the EU, reports Xinhua.
Imports fell 6.7 per cent to $70.14 billion while exports increased 3.1 per cent to $114.05 billion. The decrease indicated that trade in the Yangtze River Delta and regions along the river are still weak.
Exports to the European Union dropped 0.9 per cent to $21.29 billion. EU imports declined 7.4 per cent to $16.33 billion. Even in 2012, the most depressing year for the EU market, Shanghai imports from the EU posted 1.4 per cent growth.
