It's Happening....

Details

Category: Ningbo Business

Published: Tuesday, 24 March 2015 08:39

The foreign trade of Ningbo started with a spring-like beginning. The statistics from Ningbo Customs show that the foreign trade in the first two months amounted to 100.07 billion, increasing by 10.9% , with export 74.05 billion, up 31.3%. The overall growth of export and import, and the export growth is separately 12.9% and 16% higher than the country average. 
The concentration of the export market increased. From January to February, the export to the first three largest markets EU, US, and ASEAN are respectively 20.73 billion, 15.45 billion and 4.76 billion, up 30.5%,42.2% and 38.8%, accounting for the 55.3% of the total export, up 1.8% over the same period last year. Among the exported products, mechanical and electrical products are the major products, accounting for 54.4%, increasing by 33%. The total export of traditional labor intensive products like textile, garments, plastic products, furniture, shoes, bags and toys reached 20.96 billion, with a 26.3% growth. 

There is no significant change of the import decline. But the decline has slowed down. In the first two months, the import amounted to 26.02 billion, dropping by 23.1%. In February, the import is 11.05 billion, down 13.4%. Among the top 10 import sources, only Korean market increased by 4.8%. All the other markets declined, including 7 of them with a drop of 10%. The top three major products mechanical and electrical products, primary shaped plastic and metal scraps dropped respectively by 11%, 30.1% and 22.3%. 
Analysts from Ningbo Customs pointed out that affected by business habit of   concentrated export before the Spring Festival Holiday and resume of business after holiday, there will be a drastic fluctuation of the foreign trade data during the first quarter, in particular, during Spring Festival. Therefore, it is difficult to judge the foreign trade trend for the whole year just with the data of first two months. 

• Prev
• Next