Ningbo Port's trade volume tops $ 97.17 billion in the first half of 2012
- Category: Ningbo Port
- Published: Tuesday, 17 July 2012 10:06
Customs statistics released on Wednesday show Ningbo Port's trade volume reached $97.17 billion in the first half of 2012, an increase of 2.3 percent over the same period last year, accounting for 5.3 percent of the total imports and exports of China. The figure consists of import valued at $36.93 billion, down 1.4 percent year-on-year, export valued at $ 60.24 billion, an increase of 4.8 percent year-on-year.
During the first half of 2012, the European debt crisis led to weak demand for Chinese products in the EU market, the largest market for China. Ningbo Port's import and export value with the EU totaled $ 17.21 billion, down 4 percent year-on-year, accounting for 17.7 percent of the total port trade value in the same period or 1.2 percentage points over the same period last year. Meanwhile, Ningbo Port's trade volume to its second largest market, the United States, hit $11.13 billion, an increase of 13 percent. The imports and exports to ASEAN, its third largest market, amounted to $ 5.81 billion, an increase of 8.4 percent.
Statistics show that the export of electromechanical products, textile and garment, furniture and plastic products and other products of pillar industries are on the rise. In the first half of the year, Ningbo Port exported electromechanical products worth $ 29.25 billion, a year-on-year increase of 6.7 percent, accounting for 48.6 percent of the total export value of the port. The textile and apparel exports reached $ 12.78 billion, a year-on-year increase of 3.4 percent. The furniture and parts exports reached $ 2.2 billion, a year-on-year increase of 10.4 percent. The export of plastic products hit $ 1.69 billion, a year-on-year increase of 12.5 percent. Private companies dominate foreign trade export, with a total export volume of $ 40.33 billion in the first half of the year, a year-on-year increase of 8.4 percent, accounting for 66.9 percent of the total port export value in the same period, or 2.2 percentage points over the same period last year.
As international commodity prices are volatile, the prices of resource and downstream products of goods remain unstable. In the first half of 2012, Ningbo port imported the scrap metal worth $ 2.37 billion, a year-on-year increase of 15.5 percent. Meanwhile, the port also saw small increase in plastics in primary forms and liquid chemicals imports. However, the import of mechanical and electrical products dropped to $ 3.32 billion, down 6.6 percent.
Thanks to the improvement of the efficiency of customs clearance and railway and port infrastructure, Ningbo Port attracts many importers and exporters from other cities. From January to June, import and export volume of non-Ningbo companies reached $ 59.86 billion, accounting for 61.6 percent of the total port foreign trade value in the same period, a year-on-year increase of 0.7 percentage points