Shanghai Free Trade Zone chalked up a 2.1 percent increase in foreign trade in the first quarter to 172.29 billion yuan (US$26.51 billion), or 27.6 percent of the city’s total, up 1.7 percentage points over the same period of last year.

Exports increased 6.8 percent to 49.54 billion yuan while imports edged up 0.3 percent to 122.75 billion yuan. Companies doing imports and exports in the FTZ numbered 4,117 in the first quarter, 400 more than the same period of last year.

Exports of high-tech products showed a two-digit increase; exports of integrated circuits jumped 26.8 percent to 26.45 billion yuan; exports of medical devices expanded 12.4 percent to 2.28 billion yuan; exports of solar panels jumped 31.5 percent to 1.78 billion yuan.

Thanks to the strong performance of the FTZ, Shanghai’s imports and exports grew 2.7 percent and 3.9 percent respectively in February and March, despite a 3.6 percent drop in January.

Shanghai’s foreign trade increased 0.2 percent in the first quarter to 12 percent of the national total.

Source: Shanghai FTZ Government.cn