A year-on-year growth of 9.5%! In January and February, Ningbo Port's total import and export value reached RMB 438.39 billion

 

 

Zhejiang Online, March 14 (Correspondents Shi Mingyang, Wang Lingke, Reporter Chen Lei) It has been reported from Ningbo Customs that during the first two months of this year, Ningbo Port recorded an import and export volume of RMB 438.39 billion, marking a 9.5% increase compared to the same period last year (the same below). The value of exports was RMB 335.52 billion, up 14.1%; the value of imports was RMB 102.87 billion, down 3.2%.

 

 

Ningbo Zhoushan Port terminal operations photo by Jin Jiali

 

 

The import and export growth rate of Ningbo enterprises through Ningbo Port surpassed that of non-local firms. From January to February, the import and export value attributable to Ningbo enterprises via Ningbo Port amounted to RMB 164.53 billion, a rise of 13.4%. This figure represents 37.5% of the total import and export value for the same period at Ningbo Port (the same below), marking an increase of 1.3% compared to the previous year, and demonstrating a growth rate 6% higher than that of non-local enterprises. In contrast, the import and export value for non-local enterprises via Ningbo Port stood at RMB 273.86 billion, growing by 7.4% and representing 62.5% of the total.

Private enterprises have emerged as significant "engines" driving foreign trade growth. In the first two months of the year, private enterprises at Ningbo Port saw a significant import and export value of RMB 334.35 billion, marking a 13% increase. This accounted for 76.3% of the total, a 2.4% rise from the previous year, contributing to a 9.6% boost in the port's total import and export growth during the same period. Meanwhile, foreign-invested enterprises and state-owned enterprises reported import and export values of RMB 53.04 billion and RMB 50.87 billion, showing a rise of 7.7% and a decline of 7.6% respectively.

The international market expansion has seen diversified growth points. Ningbo Port experienced growth in imports and exports across its top eight markets in January and February. The EU, the US, and ASEAN emerged as the top three import and export markets. During January-February, Ningbo Port's trade with these regions amounted to RMB 79.67 billion, RMB 72.18 billion, and RMB 45.73 billion, reflecting increases of 18%, 9.3%, and 15.2% respectively. Notably, the share of trade with the EU and ASEAN has increased compared to the same period last year, whereas trade proportions with the US remained unchanged. Additionally, India, Brazil, the United Kingdom, Mexico, and the United Arab Emirates ranked fourth to eight as trading partners at the ports, with notable increases in both imports and exports ranging from 2.5% to 20.1%.

M&E products have taken center stage, accounting for nearly 60% of the growth in exports. During January and February, Ningbo Port reported exports worth RMB 179.19 billion in M&E products, reflecting a growth of 16.1% and contributing 59.9% to the overall export growth of the port. Specifically, exports of electrical equipment, general machinery, household appliances, and automobile parts rose by 32.5%, 13.3%, 18.2%, and 16.4% respectively. Meanwhile, the exports of automobiles and containers soared by 118.6% and 143.7% respectively. Notably, the export growth in electric passenger vehicles was remarkable, with a surge of 576.3%. Furthermore, there was a 10.7% growth in the export of labor-intensive products, amounting to RMB 97.23 billion, which contributed 22.6% to the growth of port exports. Among these, the exports of toys, furniture, and textile apparel exhibited significant growth rates.

Despite a decline in prices impacting the import value of metal ores and mineral sands, a number of competitive import products have still emerged. In January to February, Ningbo Port saw an import of metal ores and mineral sands valued at RMB 6.53 billion, marking a decline of 18.8%. However, the import volume rose by 5.1%, while the average import price dropped by 22.7%. During the same period, the import value of natural and synthetic rubber, beauty cosmetics and personal care products, steel, glass and related products, as well as pharmaceutical materials and drugs through Ningbo Port, showed an increase of over 20%. Furthermore, driven by seasonal demand, the import value of fertilizers surged by 73.4%.

Since the start of this year, Ningbo Customs has been making concerted efforts to enhance port customs clearance efficiency and scrupulously implement each policy aimed at stabilizing foreign trade, thereby offering substantial conveniences to enterprises. Looking ahead, Ningbo Customs plans to address the challenges and issues voiced by foreign trade companies by implementing more business environment optimization measures at Ningbo Port. These initiatives aim at contributing towards advancing high-level openness and bolstering the establishment of a province and city noted for robust open-economy capabilities.

 

 

---

  Disclaimer：The above content is translated from Chinese version of Zhejiang Online. The Zhejiang Online version shall prevail.