ASEAN-Shanghai trade remains strong amid pandemic

ASEAN-Shanghai trade remains strong amid pandemic

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  • Shanghai exported products worth RMB433.4 billion (US$66.3 billion) to ASEAN in the first 11 months of 2020
  • ASEAN exported more than RMB339.3 billion to Shanghai in the same period
  • Vietnam is Shanghai’s largest trade partner in the region, accounting for 27.4% of the city’s total trade with ASEAN

Trade between Shanghai and the Association of Southeast Asian Nations (ASEAN) remained strong in 2020 despite the impact of the COVID-19 pandemic, data from Shanghai Customs showed.

Shanghai imported goods worth more than RMB339.3 billion (about US$51.9 billion) from ASEAN in the first 11 months of this year, an increase of 6.1% from the same period last year, reported Xinhua News.

Meanwhile, products worth RMB433.4 billion were exported from Shanghai to ASEAN, down 4.1% year on year, partly due to the impact of the pandemic, according to Shanghai Customs.

Integrated circuits was the largest category of commodities Shanghai imported from ASEAN in the first 11 months, the product category registering a total import value of RMB85.64 billion. The amount represented a 20.5% growth over the same period last year and accounted for 25.2% of the total import value from ASEAN during the period.

Vietnam was Shanghai’s largest trade partner in the region from January to November, accounting for 27.4% of Shanghai’s total trade with ASEAN.

Photo by Marqueed

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