Ningbo exports account for 3.56% of nation's total Jan-Sept
Ningbo's imports and exports rose 6.8 percent year-on-year to more than 681 billion yuan ($101.6 billion) from January to September, local authorities announced on Oct 30.
Imports stood at 236.89 billion yuan over the period, an uptick of 4.3 percent, while exports registered an increase of 8.2 percent to 444.12 billion yuan, as per statistics released by the Ningbo municipal bureau of commerce.
The city’s import and export volume accounted for 2.97 percent and 2.35 percent of the nation's total respectively in the first three quarters of this year.
Exports from Ningbo were primarily mechanical and electrical products, which climbed 8.4 percent to 248.84 billion yuan, accounting for 56 percent of the city’s total.
Its top three trading partners over the six-month period were the EU, the US and ASEAN member states.
Ningbo also saw closer trade links with Belt and Road countries, rising to 28.6 percent of the city's total. The countries included Vietnam, Russia, Saudi Arabia and Indonesia.
Private businesses still account for the lion's share of Ningbo's foreign trade. Official data shows that the trade volume for private businesses in the first three quarters of this year surged 10.7 percent to 459.72 billion yuan, accounting for 67.5 percent of the total.
The structure of trade continued to improve with the rapid expansion of general trade.
The city's general trade imports and exports increased 8.8 percent to 589.31 billion yuan from January to September, accounting for 86.5 percent of the total, 1.6 percentage points higher than last year.