Ningbo's foreign trade thrives with impressive performance for Jan-Nov

Daxie Port Area of Ningbo-Zhoushan Port. [Photo/cnnb.com.cn]

Ningbo Customs announced that from January to November, Ningbo's total import and export value reached 1.29 trillion yuan ($177.26 billion), a 10.1-percent year-on-year increase, surpassing last year's total and becoming fifth among Chinese cities for foreign trade.

The city's exports grew by 12.5 percent to 860.31 billion yuan, while imports rose by 5.6 percent to 431.88 billion yuan.

Private enterprises made significant economic contributions, with a total import and export value of 986.7 billion yuan – up 11.5 percent and accounting for 76.4 percent of the city's total. Foreign-invested enterprises followed with 222.6 billion yuan – up 9.5 percent and accounting for 17.2 percent.

The city's trade with the United States, European Union, and ASEAN showed robust growth, with total trade values of 221.2 billion, 218.8 billion, and 170.3 billion yuan respectively, contributing to 47.2 percent of Ningbo's total trade.

Trade with Latin America increased by 7.1 percent and by 19.2 percent for Africa. Trade with countries involved in the Belt and Road Initiative grew by 9.7 percent, and with Central and Eastern European countries by 12.3 percent.

Ningbo exported 491.67 billion yuan worth of electromechanical products, a 13.3-percent increase, making up 57.2 percent of total exports. Notable increases were seen in home appliances, machinery, automotive parts, containers, and lithium batteries.

Imports of metals, plastics, petroleum, natural gas, and aluminum saw substantial growth. High-tech product imports increased by 8.3 percent, including a 16.1-percent rise in electronic technology products and a 35.3-percent increase in computer and communication technology products.