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Ningbo's foreign trade in July increased by 20.3%

On August 12, Ningbo Customs announced the statistics of the city's foreign trade from January to July. Under the complicated environment of continuous escalation of trade friction, Ningbo's foreign trade has “gone against the wind”, achieving a total import and export volume of 521.33 billion yuan, a year-on-year increase of 9.4%!

In the total import and export volume from January to July 2019, imports were 181.09 billion yuan, an increase of 5.9%, and exports were 340.24 billion yuan, an increase of 11.4%. It is worth mentioning that, as for the data for the month of July, it is a year-on-year increase of 20.3%! This was hard to come by in the context of the “seeking more export” in the same period in 2018.

In the steady growth of Ningbo's foreign trade, private enterprises contributed a lot, accounting for 67.1% of the total import and export volume of Ningbo in the same period. Private enterprises and foreign-invested enterprises, as the main import and export of the city, imported 349.63 billion yuan and 130.76 billion yuan respectively, up 12.7% and 3% respectively, which together accounted for 92.1% of the total import and export volume of the city in the same period.

In terms of market segments, the import and export of Ningbo's top three trading partners EU, US and ASEAN are respectively 108.14 billion yuan, 80.25 billion yuan and 53.96 billion yuan, up 8.3%, down 6.7% and up 22.2% respectively. They accounted for 46.5% of the city's total import and export in the same period. It can be seen that the part of the US market that has declined due to trade friction has been more or less shared by other markets.

It is worth noting that with the deep exploration of emerging markets, Ningbo's import and export of countries along the “Belt and Road” in the previous 7 months was 148.82 billion yuan, an increase of 19.5%, which was 10.1 percentage points higher than the city's import and export growth during the same period, accounting for 28.5% of Ningbo's total import and export value. In the same period, Ningbo’s import and export volume with the seventeen countries of Central and Eastern Europe reached 16.4 billion yuan, an increase of 10.9%; of which, exports were 14.34 billion yuan, up 13.1%, and imports were 2.06 billion yuan, down 2.4%.

In addition, the import volume of some bulk commodities has increased significantly. Among them, the imported iron ore was 19.527 million tons, an increase of 7.1%; the imported primary shape plastic was 3.356 million tons, an increase of 40.8%; the imported refined oil was 1.598 million tons, an increase of 1.2 times. Thanks to the increase in imports of bulk resources such as refined oil and agricultural products, Ningbo's growth in Russia and Brazil is eye-catching, with an increase of 35.5% and 20.9% respectively

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