Ningbo ports' imports, exports hit 1.8t yuan in Jan-Nov

Customs Officials examine export products from Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Imports and exports at Ningbo ports in East China's Zhejiang province amounted to 1.87 trillion yuan ($287.7 billion) in the first 11 months of this year, up 23.7 percent year-on-year, according to Ningbo Customs.

Specifically, exports stood at 1.33 trillion yuan over the 11-month period, an uptick of 21.2 percent, while imports expanded 30.5 percent to 533.12 billion yuan.

In November, the city's imports and exports were valued at 192.66 billion yuan, a jump of 23 percent year-on-year.

This is the first time the city has seen its foreign trade volume via its ports surpass 190 billion yuan in a single month.

Private companies remained the primary driving force in stabilizing foreign trade.

From January to December, the import and export volume of private companies amounted to 1.31 trillion yuan, rising by 24.9 percent. The amount accounted for 70.4 percent of the total recorded in Ningbo ports over the period.

The top three trading partners with the city's ports during this period were the European Union, the United States, and ASEAN.

Their trading volume with these economies was valued at 334.33 billion yuan, 334.29 billion yuan, and 182.5 billion yuan respectively, up 24.2 percent, 32.4 percent and 19.6 percent, and accounting for 45.6 percent of the total recorded in Ningbo ports.

In addition, the trade with countries involved in the Regional Comprehensive Economic Partnership (RCEP) rose 19.2 percent to 387.59 billion yuan.

The foreign trade value of companies in Ningbo stood at 750.83 billion yuan, an increase of 22.6 percent, while the figure for non-local companies via the city's ports hit 1.12 trillion yuan, up 24.6 percent and making up nearly 60 percent of the total.

Exports via Ningbo's ports over the period were primarily mechanical and electrical products and labor intensive products.

Imports of resource commodities including oil, nonferrous metals and basic organic chemicals also saw notable growth.