SHANGHAI's foreign trade value increased 39.5 per cent year on year to US$315.58 billion in the first half of 2010, reported Xinhua.

The increase, a record high, represents a 6.5 per cent jump on the same period of 2008, the time before global financial crisis, said Xinhau.

In the first six months, Shanghai export value came to US$192.05 billion, increasing 2.1 per cent against the first half before the recession in 2008. Imports increased 14 per cent to US$123.53 billion over those 2008 figures, totalling a net gain of US$68.53 billion.

While trade value has returned to Shanghai's pre-recessionary levels, export volumes to EU and Japan lag behind 2008 records. But the exports of emerging economies like ASEAN are expected to grow rapidly.