STATISTICS from Shanghai Customs show import and export value of Shanghai increased 23 per cent to US$329.5 billion in the first eight months of the year, Logistics Week reported.

The monthly import and export value of Shanghai in August reached a new high at $48.7 billion, representing a growth of 23 per cent year on year, the report said.

The EU is the largest trading partner of Shanghai in terms of foreign trade, which grew 30 per cent to $71.3 billion, accounting for 21.6 per cent of the total in the first eight months, the report said.

The US is the second largest trading partner of Shanghai with value up 15.9 per cent to $60.6 billion from January to August, the report added.