Ningbo’s foreign trade blooms in first half of the year

Category: Ningbo Business
Published: Friday, 02 August 2019 06:45

“In the first half of this year, the growth rate of Ningbo’s foreign trade is higher than both the national and provincial averages.” said a person in charge from the Foreign Trade Department of Ningbo Commercial Bureau. Despite the complicated and gloomy foreign trade environment,Ningbohas maintained a steady growth in the first six months of this year.

According to the statistics from Ningbo Customs, in the first half of 2019, the total import and export volume ofNingboreached 432.72 billion yuan, up by 7.4% over the same period of last year, accounting for 2.95% of the national total. To be specific, the export volume stood at 277.88 billion yuan, up by 8.0%, accounting for 3.49% of the national total, while the import volume stood at 154.85 billion yuan, up by 6.5%. The growth rates of import and export volume, export volume and import volume are higher than the national averages by 3.5 percentage points, 1.9 percentage points and 5.1 percentage points respectively, and higher than the provincial averages by 1.7 percentage points, 1.4 percentage points and 3.2 percentage points respectively.

On the morning of July 29, Ningbo Commercial Bureau issued the list of the top 200 foreign trade enterprises in terms of import and export growth in the first half of this year. Statistics show that 18,902 enterprises inNingbowere involved in the import and export trade during the period, an increase of 804 enterprises over the same period of last year.

The structure of the export commodities has been further optimized, with the increase of the mechanical and electrical products and high-tech products. The export volume of the mechanical and electrical products stood at 156.64 billion yuan, up by 8.2% over the same period of last year, accounting for 56.4% of the total export of the city, with a proportion increase of 0.1 percentage point. The export volume of the high-tech products stood at 20.75 billion yuan, up by 20.3%, 12.3 percentage points higher than the average growth rate, accounting for 7.5% of the total export, with a proportion increase of 0.8 percentage point. The import volume of the top seven consumer goods (clothes, textile, lighting equipment, plastic products, furniture, shoes, and cases & bags) reached 77.30 billion yuan, up by 7.6%. 

The export to such major export markets as the EU has witnessed growth. For example, the export growth rates to the EU and the ASEAN are 8.9% and 19.2% respectively. The export volume to the “Belt and Road” countries stood at 77.84 billion yuan, up by 13.9% over the same period of last year, accounting for 28% of the total export ofNingbo, 1.5 percentage points higher than the proportion of the last year. The export volume to the 17 CEEC countries reached 11.79 billion yuan, up by 10.1%, accounting for 4.2% of the total, with an increase of 0.1 percentage point in its proportion.

Some bulk commodities have witnessed rapid growth of import, especially from the “Belt and Road” countries. The import volume of the mechanical and electrical products stood at 23.95 billion yuan, accounting for 15.5% of the total import, while that of the high-tech products stood at 15.44 billion yuan, accounting for 10.0% of the total. The top 20 categories of goods for import are mostly producer goods, including the refined oil, iron ore and concentrate, and plastics of primary shape, which increased by 191.1%, 31.5% and 20.4% respectively. The import from the “Belt and Road” countries increased by 27.2%, 20.7 percentage higher than the average, accounting for 30.8% of the total.

The private enterprises have consolidated their role as the major force for foreign trade with a clear driving effect. The export of the private enterprises increased by 12.1%, accounting for 73.0% of the total export, with the proportion increase of 2.7 percentage points and a driving effect rate of 8.5 percentage points, while the import of the private enterprises increased by 4.9%, accounting for 55.0% of the total, with a contribution rate of 42.6% of the total import of the city.

The means of trade has been optimized and the proportion of general trade has increased. The general trade export volume of the first half of the year stood at 244.77 billion yuan, up by 9.5%, accounting for 88.1% of the total of the city, with in increase of 1.2 percentage points in proportion, and the general trade import volume stood at 128.55 billion yuan, up by 8.1%, accounting for 83.0% of the total, with a proportion increase of 1.3 percentage points