According to the latest customs statistics, the total import and export value of Ningbo, Zhejiang Province, reached Yuan 628.61 billion (RMB) in the first five months of this year, an increase of 5.4% compared with the same period last year. Exports stood at Yuan 425.78 billion, up 5%, while imports reached Yuan 202.83 billion, up 6.1%.
Private enterprises in Ningbo remained the main drivers of foreign trade, with imports and exports totaling Yuan 489.75 billion in the January--May period, up 5.9% and accounting for 77.9% of the city's total, contributing 4.6 percentage points to overall trade growth.
In terms of trading partners, Ningbo's imports and exports to the EU and ASEAN grew by 3.6% and 12.3% year-on-year, respectively. Trade with Belt and Road Initiative partner countries reached Yuan 311.62 billion, accounting for nearly half of the city's total foreign trade. Exports to Africa exceeded Yuan 40 billion, up 14.4%.
By product category, Ningbo's exports of the "new three" -- electric vehicles, lithium-ion batteries, and photovoltaic products -- maintained strong growth momentum in the January--May period, with export value reaching 28.51 billion yuan, up 138.4% year-on-year.
To meet the needs of technological development, imports of certain resources and raw materials saw robust growth. In the first five months of the year, Ningbo's imports of high-tech products reached Yuan 10.61 billion, up 35.4%, including growth of 33.7% in electronic information products and 66.3% in high-end equipment.
During the same period, imports of metal ores and mineral sands stood at Yuan 23.75 billion, up 11.9%, while imports of unwrought copper and copper materials reached Yuan 20.42 billion, up 14.1% year-on-year.
Written by Cora Ji, jiruyan@mysteel.com
