Ningbo import and export value dropped
- Details
- Category: Ningbo News
- Published: Tuesday, 28 August 2012 11:05
Under the influence of the shrinking demand caused by the European debt crisis, Ningbo's import and export value of the first seven months this year declined compared with the previous year. Statistics from Ningbo Customs show that in the first seven months, the total import and export value stands at US$55.49 billion, down by 0.4% over the same period last year. To be specific, the export value is US$35.17 billion, up by 2.7%, and the import value is US$20.32 billion, down by 5.4%.
This year, the European debt crisis continues to worsen, leading to clearly shrinking market demands. In the first seven months, the export to the European Union, the biggest trading partner of Ningbo, was only US$9.1 billion, down by 7.6%, 10.3% lower than the growth of the total export value for Ningbo.
On the contrary, affected by various stimulus policies, the American market demand has restored a bit. The export value to the United States stood at US$6.7 billion, up by 12.6%, 9.9% higher than the growth of the total export value.
It is worth noting that the export business to some emerging markets is developing rapidly. For example, the export to ASEAN reached US$2.3 billion, up by 14.9%; the export to Russia reached US$1 billion, up by 8.4% and that to Brazil reached US$600 million, up by 14.3%
