Ningbo's foreign trade surpasses 1 trillion yuan in first eight months

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

Ningbo's foreign trade reached a new milestone in the first eight months of 2026, surpassing 1 trillion yuan ($148.95 billion), a month earlier than last year.

According to Ningbo Customs, the city's total imports and exports reached 1.04 trillion yuan, up 7 percent year-on-year. Exports rose 8.5 percent to 714.62 billion yuan, while imports increased 3.8 percent to 322.28 billion yuan.

Private enterprises continued to play a leading role, accounting for 78.3 percent of the city's total foreign trade. Their imports and exports grew 8.1 percent, with exports up 10.2 percent. Foreign-invested enterprises posted 5.5 percent growth.

Ningbo's export markets continued to diversify. Exports to ASEAN surged 22 percent, while those to the European Union and the United States increased 4.1 percent and 3.7 percent, respectively. Exports to Africa and Latin America grew 20.1 percent and 9.8 percent. Total exports to other SCO member states increased by 19.2 percent year-on-year.

High-tech and green products were among the highlights. Mechanical and electrical products accounted for 57.8 percent of total exports. Exports of electric vehicles, lithium-ion batteries, and photovoltaic products soared 114.8 percent, with electric vehicle exports jumping 190 percent.

Meanwhile, imports of high-tech products rose 5.2 percent, supporting the development of emerging industries including artificial intelligence.