Trade at Shanghai port up 20% in first two months
Updated: 2008-03-17 09:10
Foreign trade in East China's Shanghai port rose 20.3 percent year-on-year to $91.06 billion in the first two months of 2008, official statistics show.
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Exports climbed 17.2 percent, 20.7 percentage points lower than the period from a year earlier, to $58.59 billion. Mechanical and electronics products accounted for around 60 percent of total exports.
Imports jumped 26.3 percent, 10.8 percentage points higher from the same period last year, to $32.47 billion, the Shanghai Customs said.
The surplus rose 7.6 percent to $26.12 billion. The rate was 66.1 percentage points lower from a year ago.
Export growth slowed as the Spring Festival holiday and the strongest winter blizzards in five decades closed factories and disrupted transport. The government policies introduced last year to reduce surging surplus also contributed to the slower pace, as shown in the steel and garment sectors.
Imports, however, accelerated their pace as China bought more commodities and farm produce at higher prices. Through the Shanghai port 549,000 tons of agricultural products were imported in the two months, an annual increase of nearly 30 percent. Their average price was up 24.7 percent from a year earlier.