New high of Ningbo's 2021 import and export value: Topping 2 trillion yuan
According to statistics from Ningbo Customs, in 2021, the value of imports and exports handled by Ningbo port was 2.05 trillion yuan, up 23.7% year over year and setting a yearly all-time high. Export volume reached 1.46 trillion yuan, an increase of 20.4%, while import totaled 589.97 billion yuan, an increase of 32.7%.
The proportion of Ningbo private enterprises’ import and export value, as well as their foreign trade growth, both exceeded 70%. Private enterprises’ imports and exports totaled 1.44 trillion yuan in 2021, a 24% growth, bringing the volume of imports and exports handled by Ningbo port to 70.2% during the same period and constituting 71% of the full year’s growth. Imports and exports of enterprises with foreign investment totaled 330.62 billion yuan during the same period, up 19.1%.
Both imports and exports from major markets grew by double digits. In 2021, the European Union, the United States, and ASEAN were the top 3 trading partners of Ningbo ports, with import and export values of 366.56 billion yuan, 363.58 billion yuan, and 201.67 billion yuan, up 31.2%, 22.9%, and 18.8%, respectively. During the same period, they accounted for 45.5% of all imports and exports handled by Ningbo port. Meanwhile, imports and exports to the Regional Comprehensive Economic Partnership (RCEP) trading partners totaled 424.41 billion yuan, an increase of 18.5%.
Electromechanical products led the way in terms of export growth, accounting for over 60% of the total. In 2021, the value of electromechanical products exported through Ningbo port stood at 765.12 billion yuan, up 24% from the previous year, accounting for 59.6% of total export growth and 52.4% of overall export value during the same period. Moreover, labor-intensive product exports increased by 16.2% to 446.05 billion yuan, while high-tech product exports grew by 31.9% to 95.88 billion yuan.
Imports of resource commodities have increased significantly, rising steadily throughout 2021. Imported crude oil increased by 34.1%, nonferrous metals by 98.6 percent, and basic organic chemicals by 34%. During the same period, they accounted for 49.7% of total import value through Ningbo port, propelling import growth to 21.8%. Furthermore, imported electromechanical products totaled 58.2 billion yuan, up 19.2%, while imported grain was 5.49 billion yuan, up 36.7%.
Ningbo port optimized its operating modes and business environment last year, while deepening its reforms. It continued reforms including "advance declaration," "two-step declaration," and "two-stage access". Operation modes such as "ship-side unloading" and "arrival direct-loading" were implemented and improved. In addition, the digitalization of monitoring and paperless customs clearance has been enhanced. In container terminals, the application of security smart locks and intelligent sealing processes were further extended.