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Ningbo's foreign trade up 7.9% from January to August

Updated:2019-09-29 (chinadaily.com.cn)

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Ningbo's foreign trade is continuing to experience robust growth, despite the complex and volatile global economic landscape.

Official data shows that from January to August, Ningbo's imports and exports stood at 601.25 billion yuan ($89.73 billion), a yearly uptick of 7.9 percent, over three percentage points faster than the national average recorded over the period. Exports in particular soared 10 percent to 393.75 billion yuan.

The city's trade with Belt and Road countries grew by 18.3 percent over the eight-month period, while trade with central and eastern European countries grew by 11 percent.

Notably, exports of high-tech products over the period were valued at 29.36 billion yuan, representing an increase of 25 percent year-on-year.

Private companies remained the primary driving force behind the growth of foreign trade in the city, accounting for 67.3 percent of the total, 2.2 percentage points higher than last year.