Ningbo's foreign trade surpasses 600b yuan in Jan-May

Chuanshan Port Area of Ningbo-Zhoushan Port. [Photo by Wu Mengkai/Yongpai App]

Ningbo's foreign trade maintained strong momentum in the first five months of 2026, with total imports and exports exceeding 600 billion yuan ($88.75 billion).

The city's total trade volume reached 628.61 billion yuan, up 5.4 percent year-on-year. Exports totaled 425.78 billion yuan, an increase of 5 percent, while imports rose 6.1 percent to 202.83 billion yuan.

The European Union and ASEAN remained Ningbo's two largest trading partners, accounting for nearly one-third of the city's trade. Trade with the EU reached 108.98 billion yuan, while trade with ASEAN climbed 12.3 percent to 96.1 billion yuan.

Trade with Africa exceeded 40 billion yuan, growing 14.4 percent, supported by China's zero-tariff policies. Meanwhile, trade with countries involved in the Belt and Road Initiative totaled 311.62 billion yuan, representing nearly half of Ningbo's overall trade volume.

Private enterprises remained the backbone of the city's foreign trade. Their imports and exports reached 489.75 billion yuan, up 5.9 percent and accounting for 77.9 percent of Ningbo's total trade.

High-tech and green products also fueled export growth. Exports of mechanical and electrical products totaled 246.96 billion yuan, while exports of electric vehicles, lithium batteries, and photovoltaic products surged 138.4 percent year-on-year.

Meanwhile, imports of high-tech products rose 35.4 percent, reaching 10.61 billion yuan.