According to Ningbo Customs data, the total import and export volume of Ningbo in the first two months of this year hit 186.6 billion yuan, down 9.8 % year-on-year. Specifically, the export volume reached 119.98 billion yuan (dropping 11.1%), while the import volume was 66.62 billion yuan (down 7.2%). Ningbo moved from the sixth to fifth place on the national ranking of import and exports. The gap between this coastal city in Zhejiang province and its immediate forerunner has shrunk by 52.64 billion yuan year-on-year.
The European Union and the United States remain Ningbo's top two trading partners. In January and February 2023, Ningbo's import and export volume to these two economies was valued at 33.69 billion yuan and 30.08 billion yuan, respectively. Association of Southeast Asian Nations (ASEAN) stayed third with a trading volume of 21.52 billion yuan, an uptick of 1.4%, and moving closer to the United States by 42%, year-on-year. Russia emerged as the 4th largest trading partner of Ningbo, with an import and export volume of 9.76 billion yuan, an increase of 74.8 percent. In addition, Ningbo's import and export volume to BRI (Belt and Road Initiative) countries increased by 9.7% to 61.77 billion yuan, accounting for 33.1% of Ningbo's total year-on-year; imports and exports to Central and Eastern European countries rose by 11.7% to 7.87 billion yuan.
The export of renewable energy products saw rapid growth, whereas consumer goods showed a sharp increase in imports. The exports of mechanical and electrical products in Ningbo amounted to 69.2 billion yuan, accounting for 57.7 percent of the city's total export value. In particular, the city registered exports of renewable energy products – such as solar cells, electric passenger vehicles, and lithium-ion batteries – increasing by 6%, 142.3%, and 114.1%, respectively, to 2.75 billion yuan, 2.15 billion yuan, and 1.63 billion yuan. The customs authority also noted the increasing imports of agricultural products in the city, reaching 5.24 billion yuan, up 41.6% year-on-year. Among them, substantial growth was registered in the import of meat, aquatic goods, and edible oil at 393.6%, 513.5%, and 259.0%, respectively. Imported automobiles rose 162% to 1.89 billion yuan.
Starting this year, Ningbo Customs has implemented initiatives to promote foreign trade. “We begin to implement the ‘Green Channel' for clearance applications, and streamline procedures to improve efficiency and service quality,” said Ding Laisong, deputy director of the export department of Haishu Customs.