Ningbo ports' imports, exports reach 2.5t yuan in 2022

The value of imports and exports at ports in Ningbo, East China's Zhejiang province, hit 2.5 trillion yuan ($357.14 billion) in 2022, up 21.6 percent year-on-year, according to the latest statistics from Ningbo Customs.

Specifically, exports via the city's ports over the past year were valued at 1.79 trillion yuan, an uptick of 22.5 percent year-on-year, while the value of imports amounted to 703.35 billion yuan, an increase of 19.3 percent.

The European Union, United States, and ASEAN were the ports' top three trading partners. Exports to and imports from these economies via Ningbo ports last year hit 453.97 billion yuan, 420.42 billion yuan, and 261.41 billion yuan respectively, up 23.9 percent, 15.7 percent and 29.6 percent and accounting for 45.5 percent of the total handled by the city.

In addition, foreign trade with countries involved in the Belt and Road Initiative and other RCEP member states via Ningbo ports were valued at 863.16 billion yuan and 504.73 billion yuan, up 30.3 percent and 19 percent respectively.

Private enterprises again made up the lion's share of foreign trade growth in 2022, during which imports and exports of private enterprises handled at Ningbo ports expanded 21.3 percent year-on-year to 1.75 trillion yuan, accounting for 70 percent of the total.

Trade made by companies from outside Ningbo was valued at 1.63 trillion yuan at the city's ports, up 32 percent year-on-year.

Stable growth was seen in the export of mechanical and electrical products, which registered an increase of 18.2 percent to 903.8 billion yuan over the past year.

Exports of new energy products posted robust growth during the period. Specifically, exports of crude oil, natural gas, refined oil products and aluminum via the city's ports rose by 55.7 percent, 51 percent, 71.7 percent and 27.8 percent respectively.