Shenzhen Imports and Exports Reached Record High in August

Shenzhen Imports and Exports Reached Record High in AugustCompared to August last year Shenzhen’s imports and exports have reached a record high of US$40.78 billion dollars last month. Total foreign trade for August was 6 percent higher compared to July also foreign trade have also exceeded US$40 billion dollars in May.

Imports for last month was registered at a total value of US$18.34 billion dollars showing an increase of more than 30 percent from August last year and last month exports have also showed a slight increase standing at US$22.44 billion dollars. Through the first eight months of 2012 the city foreign trade has exceeded US$ 290 billion dollars showing a 7.4 percent increase compared from the same period last year which placed Shenzhen among the leaders in foreign trade in China.

Despite of the overall growth, a decline in exports from processing trades was also seen in the past two months which was attributed to sluggish demand in the global market. Processing trade exports for August was at US$ 10.74 billion dollars which is a 3.0 percent decrease in August and a 2.1 decrease in July. In contrast processing trade imports grew by 13 percent in August which reversed a brief decline that started in June.

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