Copyright 2021 - Ningbo Life / Ningbo Expat

Ningbo Port achieved remarkable output in the first half year

Drawn by Zhang Yue

Ningbo is one step closer to the goal of "a world-class strong port" and "a world-class port". It was learned from Ningbo Customs the day before yesterday that from January to June this year, the import and export volume of Ningbo Port reached RMB946.15 billion, up by 29.9% over the same period last year. The export value amounted to RMB677.79 billion, a year-on-year increase of 30.9%; the import value was 268.36 billion yuan, a year-on-year increase of 27.5%. In a single month, the import and export volume in June was RMB177.16 billion, up by 22.4%, a record monthly high.

The data shows the diversification of the trade structure of Ningbo port and the increase of the general trade proportion. In the first half of the year, the import and export volume of Ningbo Port in general trade increased by 32.3% to RMB847.72 billion, accounting for 89.6% of the total import and export value of Ningbo Port in the same period, an increase of 1.6 percentage points from the same period last year. In the same period, the import and export volume by processing trade reached RMB77.33 billion, up 15%; the import and export volume by bonded logistics amounted to 19.67 billion yuan, a year-on-year increase of 5.6%.

The dominant position of private enterprises has been strengthened, contributing over 80% of the growth of foreign trade. In the first half of the year, the import and export volume of private enterprises at Ningbo Port was RMB665.71 billion, an increase of 35.9% year-on-year, accounting for 70.4%, and the contribution rate to the overall growth of Ningbo Port's import and export reached 80.7%. In the same period, the import and export volume of foreign-invested enterprises reached RMB160.07 billion, up 24.1%; the import and export volume of state-owned enterprises amounted to RMB120.09 billion, up by 10.1%.

The import and export performance of major markets was eye-catching, both showing double-digit growth. In the first half of the year, the European Union, the United States, and ASEAN were the top three trading partners of Ningbo Port, and their imports and exports increased by 33.4%, 41.1% and 33% year-on-year respectively, accounting for 45.3% of the total. In addition, imports and exports to countries along the “Belt and Road” reached RMB307.79 billion, a year-on-year increase of 23.6%; imports and exports to RECP trading partners amounted to 204.35 billion yuan, a year-on-year increase of 25.4%.

Local enterprises accounted for more than 40%, and all cities in the province achieved positive growth. In the first half of the year, the import and export volume of Ningbo enterprises at Ningbo port reached RMB 389.16 billion, up by 31.2%, accounting for 41.1% of the total import and export value of Ningbo port in the same period, and the proportion has increased. The import and export value of foreign enterprises at Ningbo port increased by 29.1% to RMB56.99 billion. Enterprises in 10 cities in the province, including Taizhou, Jinhua, and Hangzhou, all achieved positive growth.

The structure of export commodities was optimized, and the proportion of electro-mechanical products increased. In the first half of the year, Ningbo Port exported RMB352.91 billion electro-mechanical products, up 38%, accounting for 52.1% of the total export value of Ningbo Port in the same period, an increase of 2.7% over the same period last year. In the same period, the export value of labor-intensive products reached RMB206.29 billion, a year-on-year increase of 26.9%. The export value of high-tech products grew by 38.7% to RMB43.01 billion.

Imports of bulk commodities have significantly grown. In the first half of the year, Ningbo Port imported RMB59.04 billion crude oil, a year-on-year increase of 6%; imported basic organic chemicals RMB26.2 billion, up 31%; imports of unwrought copper and copper materials reached RMB18.85 billion, up 70.2%; imported iron ore amounted to RM  B14.68 billion, a year-on-year increase of 84%. In total, the four factors contributed to an 11.4 percentage point increase in imports at Ningbo Port

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