Shanghai Reports 23% Jump in Foreign Trade in First 2 Months

Shanghai's foreign trade rose sharply in the first two months of the year, signaling a strong start to 2026.

Total imports and exports reached 796.6 billion yuan (US$110.3 billion), up 23.1 percent year on year, 4.8 percentage points higher than the national growth rate, according to Shanghai Customs.

Exports climbed 19.3 percent to 357.7 billion yuan, while imports increased 26.4 percent to 438.9 billion yuan.

The city has now recorded 13 consecutive months of positive trade growth since February last year. In February alone, trade surged 28.7 percent to 397.5 billion yuan, marking the fastest monthly growth since 2011.

Trade diversification continued, with the European Union remaining Shanghai's largest trading partner. Trade with the EU rose 18.5 percent to 132.6 billion yuan.

Emerging markets also expanded, with trade with ASEAN, the Middle East, and Africa growing 21.8 percent, 15.6 percent, and 30.4 percent, respectively. Trade with the United States totaled 63.2 billion yuan, with export declines narrowing to 0.7 percent.

High-tech and green products were key drivers. Exports of electric vehicles and lithium batteries surged 112.6 percent and 94.9 percent, respectively, contributing 5.9 percentage points to overall export growth.

Ship-to-shore cranes, high-voltage electrical equipment and industrial robots also posted strong gains.

On the import side, demand for advanced technology remained robust. Imports of semiconductor manufacturing equipment, storage components and processors rose sharply, while aircraft part imports jumped 124.6 percent.

Meanwhile, consumer goods imports remained steady, supported by holiday demand, with apparel, bags, and footwear posting moderate growth.