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Foreign trade of Ningbo picking up in first quarter of 2019

It is learned from Ningbo Customs that in the first quarter of 2019, the total import and export volume of Ningbo reached 204.97 billion yuan, up by 8.9% over the same period of last year.

 

To be specific, the import volume stood at 74.76 billion yuan, up by 5.6% over the same period of last year, and the export volume, 130.21 billion yuan, up by 10.9%, achieving a trade surplus of 55.45 billion yuan.

 

 

 

The proportion of import and export volume of private enterprises has further increased. As the major forces for foreign trade, the private enterprises and the foreign-funded enterprises achieved 133.88 billion yuan and 52.94 billion yuan respectively for import and export volume, up by 10.3% and 4.8% respectively. The private enterprises are still the leading force for foreign trade, with its import and export volume in the first quarter accounting for 65.3% 9of the total, an increase of 0.8 percentage point over the same period of last year.

 

Ningbo has witnessed growth in import and export volume with the top ten trading partners, with the exception of the United States and South Korea. The import and export volume for the EU and ASEAN stood at 42.38 billion yuan and 20.9

billion yuan respectively, up by 10.3% and 16.8%. Over the same period, the city’s import and export volume to the United  States was 28.82 billion yuan, down by 10.8%. Thanks to the growth in imports of such bulk resource commodities as refined oil and iron ore at the beginning of the year, Ningbo’s imports from Russia and Brazil rose in the first quarter of 2019 by 51% and 19.3%, respectively. During the same period, the import and export volume of the 16 CEEC countries reached 5.87 billion yuan, up by 10%.

In terms of product types, the export of mechanical and electrical products increased slightly, with the export volume of 72.79 billion yuan, an increase of 10.8% year-on-year, accounting for 55.9% of the city's total exports during the period. The imports of some bulk commodities increased significantly, including 9.429 million tons of imported iron ore, an increase of 9.3%, 989,000 tons of primary shape of plastics, an increase of 42.4%, and 886,000 tons of refined oil, 1.9 times higher than that of the same period of last year

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