Shanghai's trade volume in January and February down 4.7% year-on-year, exports hit record high - Chinese report

According to the Shanghai Customs, Shanghai's import and export volume in January and February of this year was 645.85 billion former (approximately 13.4 trillion yen), down 4.7% from the same period last year, accounting for 9.9% of the country's total import and export volume.
Of this, exports increased 12.7% to 299.95 billion former (approximately 6.2 trillion yen), a record high. Imports decreased 15.9% to 345.9 billion former (approximately 7.2 trillion yen),
The trade deficit was 45.95 billion former (approximately 952.1 billion yen). The scale of imports and exports by private enterprises further expanded. Private enterprises made a significant contribution to Shanghai's foreign trade. During the same period, the private
The total value of imports and exports by companies increased by 18.7% to 245.91 billion former (approximately 5 trillion yen), accounting for 38.1% of the total. The proportion of private enterprises was 7.5 percentage points higher than the same period last year.
By trade partner country, the EU, the US, and ASEAN, Shanghai's top three trade partners, had a combined total of 273.32 billion formers (approximately 5.7 trillion yen), accounting for 4th place in the total.
The amount of exports and imports from the EU was down 5.9%, the United States was down 0.8%, and ASEAN was up 5.7%. The amount of exports and imports from the countries co-constructing the "Belt and Road" was down 3.
It increased by 4.4% to 269.69 billion former (approximately 5.6 trillion yen), accounting for 41.8% of the total.