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Foreign trade in private enterprises accelerated in the first half of the year

According to statistics from Ningbo customs house, in the first half of 2011, foreign trade in private enterprises stabilized and began to pick up, with import amounting to $23.17 billion, a corresponding increase of 22.7% and 2.8 percentage points higher than the increase in foreign trade in Ningbo for the same period, accounting for 49.5% of the sum total of import and export, contributing 55.1% to the growth in foreign trade in Ningbo.

Private enterprise are a major force of foreign trade in Ningbo and have become the most active and vigorous market entities of foreign trade. With the global economy picking up, with the policy support of the state and local government, the import and export business in private enterprises have begun to pick up steadily. As far as business partners are concerned, the export markets of enterprises mainly include the European Union, the United States and ASEAN countries while business with the Oceania, Japan and Russia has also increased rapidly.

The biggest amount of exported products in the first half of the year are mechanical and electrical products, followed by labor-intensive products, both of which increased quickly. The export of mechanical and electrical products amounted to $8.23 billion, a corresponding increase of 18.42%, accounting for 54.2% of the sum total of export of the same period. At the same time, the export of traditional labor-intensive products amounted to $4.95 billion, a corresponding increase of 24.4%.

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