Exports reverse declining trends in H1

Ningbo's imports and exports total 430.75 billion yuan ($62.42 billion) in the first half of this year, down 0.6 percent year-on-year. [Photo/cnnb.com.cn]

Statistics from Ningbo Customs show that Ningbo's imports and exports totaled 430.75 billion yuan ($62.42 billion) in the first half of this year, down 0.6 percent year-on-year.

However, that number still outpaced the national average, which reported a decrease of 2 percent over the period.

Specifically, the city's exports stood at 278.92 billion yuan, representing a yearly uptick of 0.3 percent year-on-year, while imports slid 2.2 percent to 151.83 billion yuan.

The role of private enterprises in boosting foreign trade is becoming increasingly prominent.

From January to June, imports and exports by private enterprises in the city surged 4.5 percent to 300.77 billion yuan, accounting for 69.8 percent of the city's total, an increase of 3.4 percentage points over last year.

A total of 17,863 private enterprises engaged in foreign trade over the period, 1,506 more than the same period last year.

The city's trade with its top five largest trading partners, namely the EU (excluding the UK), the US, ASEAN, Japan and South Korea, all achieved positive growth and accounted for 57.6 percent of the city's total import and export value.

Trade with the US rose by 9.5 percent to 71.65 billion yuan in the first half of this year, largely thanks to the phase one trade agreement between the two countries.

Exports of commodities such as epidemic prevention supplies and sporting goods saw robust growth.

Exports of textile products (including masks), medical equipment and medicine from Ningbo totaled 29.48 billion yuan, 1.87 billion yuan and 1.07 billion yuan respectively, up 57 percent, 35.2 percent and 43.8 percent.

Sporting goods and bikes produced in the city are also popular overseas, registering increases of 28.7 percent and 9 percent respectively.