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Trade slows down in Shanghai port

By Diao Ying (chinadaily.com.cn)
Updated: 2008-12-16 13:47

Due to weak demand both abroad and at home, exports and imports in Shanghai port either declined or slowed down in November, according to Shanghai customs.

From January to November, Shanghai port exported $2.17 billion of mechanical and electrical products, up 24.9 percent from the same period last year.

But the exports of integrated circuits, the second-largest category under the sector of mechanical and electrical products, were $12.1 billion, down by 5.9 percent year-on-year. The exports of automatic data-processing equipment, the fourth-largest category under the same sector, were $7.4 billion, down by 12.3 percent year-on-year.

The exports of garments and accessories were $41.28 billion for the first 11 months, up by 3.8 percent year-on-year, compared with 13.6 percent during the first 10 months. The exports of textile fabrics and yarns were $2.45 billion, down by 12 percent year-on-year, compared with a 16.4 percent increase from January to October. Exports of toys declined further by 26.7 percent in November to $1.27 billion.

Imports declined too. Shanghai port imported only $5.04 billion of high tech products in November, with a significant decline of 32.2 percent year-on-year. The import of integrated circuits was $2.16 billion, down 29.1 percent compared to last year, and the import of automatic data-processing equipment went down by 16.8 percent to $590 million.

The contraction of domestic industries also slowed down the imports of industrial raw materials. The port imported 3.61 million tons of plastic in primary form during the first 11 months of 2008, down by 0.1 percent from the same period last year. It imported 991,000 tons of rolled copper and copper materials, and the year-on-year increase rate declined to 2.2 percent from 81.8 percent during the first 11 months last year. Imports of iron ore and concentrates amounted to 20 million tons, down by 21.1 percent year-on-year, compared with an 18.4 percent increase last year.