Ningbo's foreign trade hits 186.6b yuan Jan-Feb

Ningbo's imports and exports were valued at 186.6 billion yuan ($27.12 billion) in the first two months of this year, according to official statistics from Ningbo Customs.

The city in East China's Zhejiang province was ranked fifth nationwide in terms of the foreign trade volume during the two-month period, up by a slot from 2022, with the gap between it and the fourth place shrinking by 52.64 billion yuan when compared with the same period last year.

Specifically, its exports totaled 119.98 billion yuan, while its import volume amounted to 66.62 billion yuan.

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 33.69 billion yuan, 30.08 billion yuan, and 21.52 billion yuan respectively. 

Its trade with Russia expanded 74.8 percent to 9.76 billion yuan, making the country the fourth largest trading partner for the city.

In addition, Ningbo's trade with countries involved in the Belt and Road Initiative rose 9.7 percent to 61.77 billion yuan, making up 33.1 percent of its total.

Its trade with the Central Eastern European countries (CEEC) totaled 7.87 billion yuan, rising by 11.6 percent from a year earlier.

Over the two-month period, exports of mechanical and electrical products amounted to 69.2 billion yuan, accounting for 57.7 percent of the city's total exports.

Robust growth was seen in the exports of new energy products. Exports of solar cells, electric vehicles and lithium-ion batteries increased by 6 percent, 142.3 percent and 114.1 percent year-on-year respectively.

Imports of agricultural products grew significantly in the first two months. Meat, aquatic products and edible oil imported by the city saw a year-on-year uptick of 393.6 percent, 513.5 percent and 259.5 percent respectively.

Over the same period, its imports of cars were valued at 1.89 billion yuan, up 162 percent year-on-year.