Ningbo's foreign trade up 12.6% Jan-April
Containers stockpiled at Ningbo Zhoushan Port in East China's Zhejiang province. [Photo/WeChat account: nbfb0574]
Ningbo's imports and exports were valued at 404.22 billion yuan ($62.19 billion) in the first four months of this year, an uptick of 12.6 percent year-on-year, according to official statistics from Ningbo Customs.
Specifically, its exports totaled 262.57 billion yuan, rising 16.6 percent year-on-year, while its import volume amounted to 141.65 billion yuan, an increase of 5.7 percent.
Private enterprises were still the main engine driving the city's foreign trade growth over the four-month period.
From January to April, imports and exports of private enterprises from Ningbo expanded 13.7 percent year-on-year to 285.65 billion yuan, accounting for 70.7 percent of the city's total.
The city's top three trading partners during this period were the European Union, the United States, and ASEAN. Its trade with these economies was valued at 75.39 billion yuan, 73.15 billion yuan, and 44.87 billion yuan respectively, up 21.9 percent, 22.1 percent and 15.5 percent, and accounting for 47.8 percent of the city's total.
In addition, the city's trade with countries involved in the Belt and Road Initiative rose 15.6 percent to 114.8 billion yuan, making up 28.4 percent of its total.
Over the period, Ningbo's trade volume with the other RCEP member countries hit 100.97 billion yuan, edging up 1 percent year-on-year.
Exports of mechanical and electrical products amounted to 150.56 billion yuan, up 16.6 percent and accounting for 57.3 percent of the city's total exports.
Imports of bulk commodity products grew significantly in the first four months. Refined oil products, coals and lignites as well as natural gas imported by the city saw a year-on-year uptick of 276.6 percent, 44 percent and 59.3 percent respectively.