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Ningbo exports soar 8.7 percent in April

Updated:2020-05-15 (chinadaily.com.cn)

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Ningbo's imports and exports total 260.49 billion yuan in the first fourth months, shrinking 7.6 percent year-on-year. [Photo/cnnb.com.cn] 

A large number of containers loaded with uncoated cardboard manufactured by Ningbo Asia Pulp and Paper Co Ltd were recently shipped to the United Arab Emirates. 

The Ningbo company has experienced a steady increase in business volume since it resumed production. 

In the first four months of this year, the company exported $173 million worth of paper, up 27.12 percent year-on-year. In April alone, its exports stood at $445.46 million, representing a yearly uptick of 11.1 percent. 

Statistics from Ningbo Customs show that Ningbo's imports and exports totaled 260.49 billion yuan ($37.7 billion) in the first fourth months, shrinking 7.6 percent year-on-year. Exports alone stood at 165.14 billion yuan, down 6.5 percent year-on-year.

Notably, the city's foreign trade increased slightly by 0.1 percent to 76.72 billion yuan in April. Its exports rose 8.7 percent year-on-year to 50.32 billion yuan, outpacing both the provincial and national averages. 

The role of private enterprises in boosting foreign trade is becoming increasingly prominent. In the first four months, the total import and export volume of private enterprises in the city reached 176.65 billion yuan, accounting for 67.8 percent of the city's total, an increase of 2.6 percentage points over the same period last year.

Cross-border e-commerce overcame the overall sluggish trade growth, with imports via cross-border e-commerce platforms in the bonded area rising 57.2 percent to 5.88 billion yuan from January to April.

The imports of commodities such as food, cosmetics, mechanical and electrical products, and integrated circuits showed robust growth. 

An official from Ningbo Customs predicted that the city's foreign trade will rebound in the second half of the year as the COVID-2019 pandemic is gradually brought under control worldwide.