NingboLife and NingboExpat since 2004 - Recovery of foreign trade in March

Recovery of foreign trade in March

Details: Category: Ningbo Business; Published: Wednesday, 02 May 2012 09:14

Owing to the European debt crisis, the foreign trade of Ningbo in the first quarter of this year saw a low growth. According to the updated statistics from Ningbo Customs, in the first three months, the total of import and export of Ningbo City is $22.285 billion, increased by 1.9% over the same period of last year, and recovered from the general decline in the previous two months. Of the total, the export reaches $13.303 billion, increased by 4.8%; the import 8.982 billion , dropped by 21.% over the same period of last year.

In the first quarter of this year, The export to EU countries reaches 3.599 billion US dollars, reduced by 23.% against the same period in the previous year. Of the total, the export of solar energy cell, ship, LED panel and clothes dropped by over $300 million. The export to USA grows by 14.4%%. In the same period, The export to Latin American countries, the ASEAN countries and the Brics rises respectively by 7.6%, 24.2% and 10.2%. This shows that Ningbo has made considerable progress in the exploration of the emerging markets.

It is noted that in March the export increased by 10.9% on the year-on-year base, 2 points higher than the average growth rate of the country. According to Ningbo Statistical Survey Team of the State Statistics Bureau, in March, the export of ordered products of the manufacturing industry started to rise on the monthly base. According to an interview of 47 purchasing managers of manufacturers, orders for export increased by 29.8%, 16.5 points above the same period of previous month. In the first quarter of this year, the output value of exports of large industrial enterprises rose by 3.2 points above the previous months.

However, in the situation of the decline of the growth rate of the principal economic bodies and the decline of the external demand, the situation in the second quarter this year might not be satisfactory. Related person from Ningbo Trade Bureau says, it is estimated that the general situation of import and export of Ningbo might be "stable with low growth".