Ningbo's trade surges with BRICS countries Jan-July

A view of Ningbo Zhoushan Port in East China's Zhejiang province. [Photo/cnnb.com.cn]

Ningbo in East China's Zhejiang province has witnessed a remarkable surge in trade with BRICS countries. Recent data from Ningbo Customs reveals that from January to July, trade between Ningbo and BRICS countries topped 78 billion yuan ($10.66 billion), representing an increase of 22 percent year-on-year. This amounts to 10.8 percent of the city's total imports and exports during the same period.

Exports alone reached over 51 billion yuan, showing a growth rate of 32.8 percent. Key export items include mechanical and electrical products, clothing, plastic goods, agricultural products, and cultural items.

Notably, exports to South Africa, the current rotating chair of BRICS and host of the 2023 BRICS summit, totaled 4.6 billion yuan in the first seven months of this year, a nearly 28 percent increase compared to the same period last year.

Ningbo Deye Inverter Technology Co Ltd reported impressive sales of over 1.1 billion yuan in the South African market, marking a three-fold increase year-on-year. They also revealed plans to export inverters worth $1.66 million to South Africa, capitalizing on the country's high demand for photovoltaic power generation.

To further boost trade with BRICS countries, Ningbo Customs has introduced 20 measures to streamline trade processes and enhance efficiency. These measures aim to empower local enterprises to seize trade opportunities and fully unlock the city's foreign trade potential.