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Ningbo's foreign trade hits 1.19 trillion yuan in 2021

chinadaily.com.cn| Updated:  January 19, 2022 L M S

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Customs officials examine products to be exported from Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo's imports and exports hit 1.19 trillion yuan ($183 billion) in 2021, up 21.3 percent year-on-year, according to official statistics from Ningbo Customs.

Specifically, its exports totaled 762.43 billion yuan, rising by 19 percent year-on-year, while its import volume amounted to 430.18 billion yuan, an uptick of 26.3 percent.

Private enterprises still account for the lion;s share of the city's foreign trade volume.

Over the past year, imports and exports of private enterprises in Ningbo expanded 20.6 percent year-on-year to 766.26 billion yuan, accounting for 70.4 percent of the city's total.

The city's top three trading partners were the European Union, the United States, and ASEAN. Its trading volume with these economies was valued at 212.77 billion yuan, 208.44 billion yuan, and 124.89 billion yuan respectively, up 24.5 percent, 20.4 percent and 15.5 percent, and accounting for 45.8 percent of the city's total.

In addition, the city's trade with countries involved in the Belt and Road Initiative rose 20.3 percent to 330.42 billion yuan in 2021, making up 27.7 percent of its total trade.

Exports of mechanical and electrical products amounted to 440.01 billion yuan, up 24.6 percent and accounting for 57.7 percent of the city's total exports.

Meanwhile, the city exported 183.81 billion yuan worth of labor-intensive products, up 4.1 percent year-on-year.

Imports of bulk commodities such as metal ores and basic organic chemicals saw notable growth. 

In December alone, Ningbo's foreign trade volume rose 15.4 percent year-on-year to 103.66 billion yuan.

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