Ningbo's export to Africa tops US$ 430m
- Details
- Category: Ningbo Business
- Published: Tuesday, 03 July 2012 10:00
Statistics show, Ningbo companies have exported 9,210 batches of Ningbo-made products to Africa over the first five months. The trading volume reaches 430 million USD, a year-on-year increase of 6 percent and 26 percent respectively.
Given the huge African market potential, it is significant for Chinese companies to transform and upgrade themselves and take diversified strategy to seize the opportunity. In the first five months in 2012, 1,778 Ningbo companies sold their products to Africa, including tea, air conditioning, canned foods, wire and cable, textiles, and small home appliances. As the stable African countries usually show higher purchasing power, South Africa becomes the top importer, with a trading volume of 91 million USD. Next to South Africa are Egypt and Algeria, with a trading volume of 59,850,000 USD and 40,910,000 USD respectively.
Ningbo companies are showing increasing confidence in the African market. Currently, Ningbo has established trade relations with 50 countries and regions out of the 54 African countries. In Ningbo, Cixi outnumbers the other districts and counties with a trading volume of 150 million US dollars, an increase of 25 percent year-on-year. Yinzhou District and Yuyao follows Cixi, with a trading volume of 92.7 million USD, 8650 million USD, a year-on-year increase of 90 percent and 85 percent respectively.
The biggest impact on Ningbo's exportation to Africa is war. During the first half of 2012, the civil war broken out in Mali has negative effect on the trade of its neighboring countries. Mauritania, a traditional tea distribution center imported tea worth 3.93 million USD from Ningbo, a decline of 52 percent year-on-year. In contrast, Egypt, in the wake of its civil war, has seen a growing export volume, which stood at $ 59,840,000, an increase of 37 percent year-on-year
