According to the statistics of Shanghai Customs, in the first four months of 2024, Shanghai's total import and export value was RMB 1.39 trillion, up 0.1% year-on-year (the same below). Wherein: exports totaled RMB 553.07 billion, down 0.4%; imports reached RMB 835.97 billion, up 0.4%; the trade deficit was RMB 282.9 billion, up 1.9%. In April, the import and export value was RMB 357.25 billion, up 4.2%.
The import and export of general trade made steady progress, while that of bonded logistics remained basically the same. In the first four months this year, Shanghai's import and export value in general trade reached RMB 837.66 billion, up 1.2%. Wherein: the export value was RMB 309.61 billion, up 2.8%; the import value was RMB 528.05 billion, up 0.2%. In the same period, the value of import and export through bonded logistics reached RMB 359.68 billion, down slightly by 0.2%. In addition, the value of import and export through processing trade was RMB 180.21 billion, down 5%, with a decline narrowing by 2.9 percentage points compared with that in the first quarter.
The share of domestic enterprises continued to increase, while the decline in foreign-funded enterprises narrowed. In the first four months this year, the import and export value of private enterprises in Shanghai was RMB 433.88 billion, up 1.6%, an increase of 0.5 percentage points to account for 31.2% of Shanghai's total import and export value during the same period (the same below); the import and export value of state-owned enterprises was RMB 158.71 billion, up 7.3%, an increase of 0.8 percentage points to account for 11.4%. During the same period, the import and export value of foreign-invested enterprises was RMB 795.84 billion, down 1.8%, with a decline narrowing by 1.4 percentage points compared with that in the first quarter.
Imports and exports to ASEAN changed from decline to increase, while those to other BRICS countries maintained double-digit growth. In the first four months this year, Shanghai's imports and exports to ASEAN totaled RMB 183.17 billion, an increase of 2.5% from a decrease of 2.5% in the first quarter, accounting for 13.2% of Shanghai's total import and export value during the same period, making ASEAN Shanghai's second largest trading partner after the EU. During the same period, the imports and exports to the EU and the United States totaled RMB 254.17 billion and RMB 152.66 billion respectively, down 9.9% and 3.2% respectively, accounting for 29.3% of Shanghai's total import and export value. In addition, the imports and exports to other BRICS countries reached RMB 134.25 billion, up 16.1%; wherein: the value of exports was RMB 53.46 billion, up 9.6%, and the value of imports was RMB 80.79 billion, up 20.8%. The imports and exports to Switzerland reached RMB 75.79 billion, up 41.5%.
Ship exports continued to be strong, and the export scale of labor-intensive products was stable. In the first four months this year, Shanghai's ship exports reached RMB 19.6 billion, up 87.6%, stimulating Shanghai's exports by 1.6 percentage points during the same period. The export value of lithium-ion batteries was RMB 14.83 billion, up 2.1%. During the same period, the export value of integrated circuits was RMB 56.87 billion, up 3.5%; that of automatic data processing equipment and its parts and components reached RMB 45.35 billion, up 16.3%. In addition, the export value of labor-intensive products was RMB 55.82 billion, up 3.7%; wherein: the export value of textile and garment was RMB 32.14 billion, up 0.9%; that of plastic products was RMB 11.71 billion, up 11.1%. The export value of refined oil products was RMB 3.96 billion, up 1.9 times.
Imports of major components and parts of consumer electronics grew rapidly, while imports of textile, clothing, shoes and hats increased. In the first four months this year, Shanghai's imports of mechanical and electrical products reached RMB 335.79 billion, an increase of 2.9% from a decrease of 0.3% in the first quarter. Wherein: the import value of integrated circuits, storage components and flat-panel display modules totaled RMB 99.49 billion, up 13%. During the same period, the import value of textiles, clothing, shoes and hats reached RMB 40.24 billion, up 10.3%, an increase of 2.5 percentage points compared with that in the first quarter. In addition, the import value of iron ore and its concentrate reached RMB 57.71 billion, up 22.8%.
Disclaimer：The above content is translated from Chinese version of Shanghai Customs 12360 hotline. The Shanghai Customs 12360 hotline version shall prevail.