International Trade: EU is Shanghai's largest market

The European Union has become the biggest export market and import source of Shanghai, according to the latest statistics from the Shanghai customs.

Bilateral trade between Shanghai and the EU topped 8.77 billion U.S. dollars in January, 48.9 percent up on last year. Exports in that month soared to 6.19 billion U.S. dollars, up 56.8 percent, while imports stood at 2.58 billion U.S. dollars, up 32.7 percent.

The expansion of the EU - the addition of Bulgaria and Romania - is seen as the major reason for growth. Trade between Shanghai and the two countries ranges from textiles to electrical products.