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Foreign trade brisk in Ningbo
Last Updated(Beijing Time):2017-08-04 13:28:00

With the recovering of the global economy, Ningbo has witnessed a recovering foreign trade over the past half year. From January to June this year, the city achieved a total import and export volume of 362.06 billion yuan, up by 26.2% over the same period of last year, ranking among the top in terms of the growth rate. Among others, its export volume accounted for 3.28% of that of the whole county.

As one of the major three forces for economic development, the foreign trade is playing an indispensable role in the economic growth and regional development. In the new normal phase, the transformation and upgrading of the foreign trade in Ningbo, where there are about 20,000 foreign trade enterprises, has become a weathervane for Ningbo’s economy.

In terms of export product structure, in the first half of this year, the electrical and mechanical products with high added value continued to take the lead, while the export of such labor-intensive products as the daily consumer goods declined. The growth rate for the traditional export products like clothes and textile products also slowed down.

In the first half of this year, the service trade maintained steady growth, with the export volume of 35.55 billion yuan, up by 16.7%, accounting for 8.9% of the total foreign trade volume of the city. To be specific, such emerging industries as computer and information service (international service outsourcing), finance, insurance, communications and culture witnessed a rapid growth rate. The growth rate of the cultural industry even reached a high 176.9%. The knowledge procedure outsourcing services including industrial design, medical and bio-tech research and development, and animation and online game design increased by over 50%, further optimizing the city’s service trade patterns.

At the new starting point, Ningbo will continue to build itself a comprehensive trial zone for China-CEEC investment and trade and dock directly with the “belt and road” initiative. By promoting the export transformation and upgrading and laying a solid foundation for foreign trade, the city will make the new technologies, new industrial patterns and new models the source of power for its sustainable and healthy development of the foreign trade and even the entire economy.

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