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Outstanding import and export of Ningbo port in the first half of the year

Data released by Ningbo Customs on July 16 show that in the first half of this year, Ningbo Port’s foreign trade was resilient despite the complex global economic and trade environment, and the import and export scale both achieved significant growth. In the first half of the year, import and export volume of Ningbo Port reached nearly RMB1.3 trillion, up 37% year-on-year. The export value amounted to RMB945.14 billion, up 39.5% year-on-year; the import value RMB352.74 billion yuan, up 30.8% year-on-year.

The EU, the United States and ASEAN remained the top three trading partners of Ningbo Port, which together accounted for 47.3% of the total import and export volume of Ningbo Port during the same period. The import and export volume to countries along the “Belt and Road” reached RMB431.38 billion, up 40.1% year-on-year, accounting for 33.2% of the total import and export volume in the same period; the import and export volume to other RCEP member countries amounted to RMB265.02 billion, up 29.4% year-on-year and accounting for 20.4% of the total.

Private enterprises maintained strong growth and still played the dominant role in the foreign trade. In the first half of the year, the import and export volume of private enterprises in Ningbo port reached RMB 902.86 billion, up 35.6% year-on-year, accounting for 69.6% of the total during the same period, and contributing 67.5% to the overall growth of Ningbo port import and export.

Electro-mechanical products lead the export growth of Ningbo port. In the first half of the year, Ningbo port exported RMB472.86 billion electro-mechanical products, up 34% year-on-year, accounting for 50% of the total exports in the same period.

In terms of imports, crude oil was the commodity with the largest import value at Ningbo Port in the first half of the year, with an import value of RMB112.56 billion, a substantial increase of 90.7% year-on-year, and the average import price increased by 62.9% year-on-year

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