Results of Ningbo’s foreign trade in first half of year released
- Details
- Category: Governmental News
- Published: Wednesday, 07 August 2024 16:04
Accordig to the foreign trade report for the first half of 2024, released on July 16 by Ningbo Customs, the total foreign trade volume of Ningbo in the first half of this year stood at 681.14 billion yuan,
an increase of 9.5% compared to the same period of last year.
To be specific, the export value was 445.31 billion yuan, a year-on-year increase of 9.9%; and the import value was 235.83 billion yuan, a year-on-year increase of 8.6%.
It is noteworthy that in the first half of the year, the import and export scale of Ningbo set a new historical high, an increase of 49.15 billion yuan compared to the that of 2022, the second highest in the same period. Ningbo continues to rank No.5 among the top 10 foreign trade cities in China, with its export ranking No.4 and import, No.5.
In the first half of the year, the import and export volume of private enterprises in Ningbo exceeded 510 billion yuan, up by 11.2%, accounting for 75.4% of the total import and export volume of Ningbo during the same period, and the proportion increased by 1.2 percentage points compared to the same period last year. During the same period, the import and export volume of foreign-invested enterprises exceeded 120 billion yuan, up by 9.2%.
Ningbo saw a stable growth in import and export volume with its major trading partners. In the first half of the year, the United States, the European Union, and ASEAN were the top three trading partners of Ningbo, with import and export volumes of 117.5 billion yuan, 114.1 billion yuan, and 86.1 billion yuan respectively, a year-on-year increase of 15.6%, 4.9%, and 17% respectively, accounting for 46.6% of the city’s total import and export volume.
In addition, the import and export volume of Ningbo to the “Belt and Road” countries was 295.6 billion yuan, up by 7.2% year on year. Its import and export volume with other RCEP member countries reached 173 billion yuan, a year-on-year increase of 9.9%.
In terms of export, the export value of traditional advantageous products continues to grow.
In the first half of the year, the export value of mechanical and electrical products was 254.1 billion yuan, a year-on-year increase of 9.8%. Among others, the export value of household appliances, electrical equipment, general machinery equipment, and automotive spare parts increased by 16.6%, 5.1%, 27.2%, and 12.8% respectively. Due to the cyclical recovery of the industry and the international situation, the demand for containers has surged, leading to a significant increase 453% for container export in the first half of the year.
In terms of import, the import volume of resource-based goods increases significantly.
In the first half of the year, Ningbo achieved a total import value of 90.4 billion yuan for such resource commodities as metal ores, unwrought copper and copper materials, primary shaped plastics, finished oil, natural gas, and unwrought aluminum and aluminum materials, a year-on-year increase of 24.7%, which offered an import increment of 17.91 billion yuan and a contribution rate of 95.9% to the import growth
