NingboLife and NingboExpat since 2004
Ningbo’s Imports and Exports Increase 22.5% in First Three Quarters
Category: Government News
Posted: Monday October 25, 2021 11:56 AM
âOur company’s products are mainly exported to large supermarkets in Europe and the United States. The total export volume in the first three quarters reaches 40 million RMB, increasing by more than 20% year on year. Although this year has been affected by factors such as the increase in the prices of aluminum and other raw materials and the exchange rate, the production costs and pressures have increased, but I think the development in the fourth quarter of this year will continue to improve. Director Ye, responsible for customs affairs of Ningbo Shama Home Furnishing Import & Export Co., Ltd., remained optimistic about the foreign trade situation.
The prosperity of Shama Home Furnishing is a microcosm of Ningbo’s foreign trade enterprises. According to Ningbo Customs statistics, in the first three quarters, Ningbo’s imports and exports totaled RMB 872.98 billion, up 22.5% from the same period last year. Among them, exports increased 20% to 557.42 billion RMB and imports reached 315.56 billion RMB, an increase of 27.2% year-on-year. âData show that Ningbo’s foreign trade has strong resilience. It has grown rapidly and the pace of high-quality development is accelerating, one step closer to the trillion dollar goal. said the competent person in charge of Ningbo customs.
Private enterprises are still Ningbo’s main import and export force, with a total volume of RMB 614.34 billion, up 21.4% year-on-year, accounting for 70.4% of the total volume of business. import and export of the city during the same period. The European Union, the United States and ASEAN remain the three main trading partners. In the first three quarters, Ningbo’s imports and exports to EU, US and ASEAN were 154.33 billion RMB, 153.08 billion RMB and 92.42 billion RMB, respectively. , which represents an annual increase of 22%, 23.5% and 17.6%. They accounted for 45.8% of the total value of Ningbo’s foreign trade during the same period. During the same period, Ningbo’s imports and exports to countries along the “Belt and Road” reached RMB 241.28 billion, up 22% year-on-year, accounting for 27.6 % of the total value of Ningbo’s imports and exports during the same period.
In terms of product categories, electromechanical products are the main export products, with exports of RMB 320.47 billion, an increase of 27.3% year-on-year, accounting for 57.5% of total exports of the city. Import value of metal ores and ores increased significantly, with import volume of RMB 38.37 billion, up 65.2%