By Li Panpan

(JW Insights) Apr 25 -- Shanghai’s export of lithium batteries and electric passenger vehicles jumped by 216.4% and 98.2% in the first quarter of 2023, said data from Shanghai Customs.

The total import and export value of Shanghai in the first quarter reached RMB1.05 trillion ($152.20 billion), a record high for the same period in history, with a year-on-year increase of 3.5%.

Shanghai’s imports and exports to the EU, its largest trading partner, were valued at RMB212.4 billion ($30.79 billion) in the first quarter of 2023, an increase of 8.2% year-on-year, accounting for 20.3% of the total.

Shanghai’s imports and exports value to ASEAN, the United States, and Japan registered RMB137.59 billion ($19.94 billion), RMB118.04 billion ($17.11 billion), and RMB98.02 billion ($14.21 billion), respectively during the time.

The city's imports and exports to other RCEP member countries and countries included in the “Belt and Road” Initiative increased by 3.6% and 2.3%, accounting for 33.6% and 22.4%, respectively.

Shanghai exported RMB285.34 billion ($41.36 billion) of mechanical and electrical products in the first quarter of 2023, an increase of 0.5% year-on-year, accounting for 70% of the total. Among those, the exports of solar batteries increased by 57.3%, according to the data from Shanghai Customs.