Against the backdrop of a complex and changing global economy, Shanghais 2023foreign tradeimport and exporttotal volume demonstrated resilience and vitality. According to the latest statistics, Shanghai achieved a total foreign trade import-export volume of 4,212.161 billion yuan in 2023, a slight increase of 0.7% over the previous year. This achievement is attributed to the relentless efforts of local governments and enterprises, as well as reflecting Shanghais important position and influence in international trade.

In terms of exports, Shanghai showed more pronounced growth momentum, with total exports reaching 1,737.794 billion yuan, a year-on-year increase of 1.6%. Although this growth is cautious, it still demonstrates the resilience and potential of Shanghais export industry in the current global trade environment.

Changes in major export markets

In 2023, Shanghais exports to its major trading partners showed varying degrees of change. Exports to the EU showed a slight decline, decreasing by 1.0% to 310.172 billion yuan. This may reflect fluctuations in European market demand and various challenges in China-EU trade relations. Meanwhile, exports to the US experienced a larger decline, dropping by 11.8% to 277.490 billion yuan, which may be related to the complexity of China-US trade environment to some extent.

However, Shanghais exports to Japan and Hong Kong, China achieved growth, with exports to Japan increasing by 6.5% and exports to Hong Kong, China increasing significantly by 15.6%, showing strengthened trade ties with these markets.

New three products lead growth

It is worth mentioning that the export performance of Shanghais new three products in 2023 was particularly outstanding, with a total value of 167.79 billion yuan, a substantial year-on-year increase of 42.2%, accounting for 9.7% of the total export value during the same period. This significant growth boosted the overall export growth rate by 2.9 percentage points, highlighting the important role of emerging products in promoting Shanghais foreign trade development.

In particular, electric passenger vehicles became an important force in foreign trade growth. The annual export value exceeded the 100 billion yuan mark for the first time, reaching 120.89 billion yuan, a surge of 43.9% year-on-year. This achievement marks a major breakthrough for Shanghai inNew energythe field of automobile exports and also reflects the growing global demand for green and new energy vehicles.

Imported mining electromechanical equipment agents play an important role in promoting the transformation and upgrading of Chinas mining industry. In the future, agents will continue to give full play to their advantages and help Chinas mining industry achieve high - quality development.

Shanghais foreign trade performance in 2023 demonstrated both the ability to cope with challenges in traditional markets and the acumen to seize opportunities in emerging fields. Despite the uncertainty in the global trade environment, Shanghai was able to inject new vitality and momentum into foreign trade development by optimizing export structure, improving product quality, and enhancing the competitiveness of emerging industries.

As the global economy gradually recovers and market demand grows, Shanghai is expected to continue consolidating and expanding its position in international trade. By further promoting technological innovation and industrial upgrading, Shanghai is expected to open up broader international markets, promote sustained and healthy development of foreign trade, and make greater contributions to global trade stability and economic growth.