Ningbo ports' imports, exports approach 2t yuan Jan-Oct

Two Ningbo Customs officials work at a port in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

Imports and exports at Ningbo ports reached 1.99 trillion yuan ($274.91 million) in the first 10 months of this year, with exports reaching 1.46 trillion yuan and imports totaling 538.9 billion yuan, according to the latest statistics from Ningbo Customs.

Though all three indicators experienced a decrease compared to the same period last year, the rate of decline significantly narrowed in comparison to the first nine months.

In October, Ningbo ports recorded nearly 200 billion yuan in imports and exports, showing a year-on-year uptick of 20.4 percent. This marks the highest growth rate seen in a single month this year.

Private enterprises have shown strong resilience in foreign trade. Imports by private enterprises through Ningbo ports reached 234.43 billion yuan during the 10-month period, an increase of 2.4 percent compared to the previous year. This accounted for 43.5 percent of the total import amount of Ningbo ports during the same period and significantly contributed to narrowing the year-on-year decline.

Additionally, the structure of import and export commodities has been further optimized. With the acceleration of new productive forces, "Made in China" is consistently moving towards the high-end industrial and value chains, consolidating the country's import and export competitiveness.

This trend is particularly evident in the field of automobile exports. From January to October, 15.78 billion yuan worth of automobiles were exported via Ningbo ports, a year-on-year increase of 47.4 percent. Notably, the export volume of new energy vehicles increased by an impressive 76.8 percent compared to the corresponding period in 2022.