According to the latest statistics from the Shanghai customs, the European Union has become the biggest export market for Shanghai goods and import source for European goods.

Bilateral trade between Shanghai and the EU topped US $8.77 billion in January, 48.9 percent more than last year.

Exports to EU in January have soared to $6.19 billion, up 56.8 percent, while imports stood at $2.58 billion, up 32.7 percent.

With the inclusion of Bulgaria and Romania as EU members on January 1, 2007, this growth is seen. Trade between Shanghai and these two countries ranges from textiles to electrical products.

Shanghai’ s trade with the US, Japan and ASEAN countries was $7.28 billion, $5.15 billion, and $3.58 billion, up 30.7 percent, 17.8 percent and 6.8 percent respectively.