Ningbo’s import and export volume increases by 8.3% year on year
- Details
- Category: Governmental News
- Published: Wednesday, 19 June 2024 13:45
In the first four months of 2024, Ningbo’s foreign trade made great achievements: the total import and export volume stood at 434.48 billion yuan, up by 8.3% year on year. To be specific, the export volume reached 277.81 billion yuan, up by 5.6, and the import volume
reached 158.67 billion yuan, up by 13.4%.
The year-on-year growth rates of import and export volume, export volume, and import volume are all better than the national and provincial average. In the first four months, Ningbo’s import and export volume accounted for 3.16% of the national volume during the same period.
Private enterprises serve as the main force in import and export, making the greatest contribution. In the first four months, the import and export volume of private enterprises in the city was about 325 billion yuan, a year-on-year increase of 8.9%, accounting for 74.4% of the total import and export volume of Ningbo during the same period. The import and export volume of foreign-invested enterprises and that of state-owned enterprises both achieved positive growth, up by 8.4% and 2.9%, respectively.
Traditional markets and emerging markets advancing side by side
In the first four months, Ningbo’s total import and export volume to such traditional markets as the United States, the European Union, Japan, and the United Kingdom was about 180 billion yuan, a year-on-year increase of 7.3%. The import and export volumes to such emerging markets as ASEAN, Brazil, and Chile increased by 15.8%, 30.3%, and 17.7%, respectively.
In addition, the import and export volume of Ningbo to the “Belt and Road” countries exceeded 190 billion yuan, up by 7.1% year on year. The import and export volume to other RCEP member countries exceeded 110 billion yuan, a year-on-year increase of 9.8%.
Export of traditional advantageous products continuing to grow
In the first four months, Ningbo exported nearly 160 billion yuan of mechanical and electrical products, a year-on-year increase of 5.1%. Among others, the export volume of household appliances and that of general machinery and equipment were 20.45 billion yuan and 11.96 billion yuan, respectively, with the year-on-year increases of 12.2% and 21.6%. Thanks to the recovery and boost of the international container market, the export volume of containers increased significantly by 870.3% year on year.
Resources and raw material products driving import growth
In the first four months, the import volumes of iron ore, copper materials, primary shaped plastics, refined oil, liquefied natural gas, and aluminum materials achieved positive growth, contributing a cumulative increase of 18.5 billion yuan in import volume, driving the import growth of the city by 13.2 percentage points over the same period
