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Ningbo's foreign trade surges 23.6% Jan-Aug

chinadaily.com.cn| Updated:  September 10, 2021 L M S

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Beilun container port in Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]   

Ningbo's imports and exports totaled 763.55 billion yuan ($117.5 billion) from January to August, rising 23.6 percent year-on-year, official statistics from Ningbo Customs show.

Specifically, its exports amounted to 487.28 billion yuan, up 20.7 percent year-on-year, while its import volume reached 276.27 billion yuan, an increase of 29.2 percent.

In August alone, Ningbo's foreign trade volume expanded by 13.5 percent year-on-year to 102.16 billion yuan.

The city's top three trading partners during the eight-month period were the European Union (excluding the UK), the United States, and ASEAN.

In the first eight months of this year, trade between Ningbo and the three aforementioned economies was valued at 134.77 billion yuan, 132.44 billion yuan, and 81.27 billion yuan respectively, up 21.5 percent, 24.3 percent and 18.6 percent respectively, with the combined value accounting for 45.6 percent of the city's total trade.

In addition, the city's trade with countries involved in the Belt and Road Initiative rose 23.9 percent to 211.74 billion yuan, accounting for 27.7 percent of its total trade.

Exports of mechanical and electrical products reached 279.63 billion yuan, up 28.5 percent and accounting for 57.4 percent of the city's total exports.

Exports of labor-intensive products during the period stood at 117.8 billion yuan, edging up 1.7 percent year-on-year.

As for imports, the city imported 33.93 billion yuan worth of metal ore and ore sand from January to August, a jump of 69.9 percent year-on-year.     

Private enterprises were still the main drivers of the city's foreign trade growth in the seven-month period.

Imports and exports of private enterprises surged 22.9 percent year-on-year to 537.5 billion yuan, accounting for 70.4 percent of the city's total.                           

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