Ningbo Port records over 780 billion yuan in trade in first four months

The Ningbo-Zhoushan Port, one of the busiest ports in the world. [Photo by Shi Xufeng/cnnb.com.cn]

Ningbo Customs reported that the total trade value at Ningbo Port reached 782.78 billion yuan ($108.39 billion) in the first four months of this year, a 2.6-percent year-on-year increase.

Exports totaled 559.28 billion yuan, a slight 0.4-pecent decrease from the previous year, while imports surged to 223.5 billion yuan, up 11.2 percent.

The period saw both the total trade and import volumes at Ningbo Port hitting record highs for the same timeframe. Private enterprises, State-owned enterprises, and foreign-invested enterprises in Ningbo achieved trade values of 573.55, 111.25, and 97.86 billion yuan, respectively, with year-on-year growth rates of 2.6, 3.4, and 1.9 percent.

In traditional markets, Ningbo Port's trade with the United States reached 134.4 billion yuan, a 6.1-percent increase. Emerging markets also showed strong growth, with trade with ASEAN, India, Brazil, and Russia rising by roughly 5, 6, 23, and 30 percent, respectively, contributing an additional 15.15 billion yuan in trade value.

Trade with Belt and Road Initiative countries grew by 2.8 percent, while trade with RCEP member countries increased by 4 percent.

Significant export growth was seen in agricultural machinery (27 percent), motorcycles (17 percent), furniture (16 percent), and general machinery equipment (13 percent). Most notably, container exports skyrocketed, increasing by 630 percent.

Imports of major commodities, including energy products, metal ores, and grains, totaled 87.7 billion yuan, a 12.5-percent increase and contributing nearly 10 billion yuan in additional import value. Agricultural product imports rose by 13.2 percent, while imports of food, tobacco, alcohol, textiles, and apparel surged by 6.1 and 37.7 percent, respectively.