Ningbo-ASEAN Import Up & Export Down in April 2017

According to Ningbo Customs statistics, from this January to April, Ningbo Port’s trade with the ASEAN totaled CNY 31.17 billion, up 16.4% year-on-year (YOY), including import value 8.17 billion yuan, up 48.3%; export value 23 billion yuan, up 8.1%; trade surplus 14.83 billion yuan. In April alone, the bilateral trade reached 8.13 billion yuan, down 1.5% YOY, including import value 1.77 billion yuan, up 23.2%, and export value 6.36 billion yuan, down 6.7%.

Characteristics of Ningbo-ASEAN Trade in April:

(1) April’s import up and export down. This April, Ningbo import from ASEAN reached 1.77 billion yuan, up 23.2% YOY, while export to ASEAN reached 6.36 billion yuan, down 6.7% YOY.
(See the chart below)
 

(2) Dominated by ordinary trade mode. In April, Ningbo’s ordinary trade with ASEAN reached 6.91 billion yuan, up 2% YOY, accounting for 85% of the total trade; processing trade with ASEAN reached 1.09 billion yuan, down 22.2% YOY.

(3) Private enterprises were the major trader with ASEAN. In April, Ningbo-based private enterprises made ASEAN trade value of 5.59 billion yuan, up 0.6% YOY, accounting for 68.8% of the total; foreign-invested enterprises made ASEAN trade value 2.01 billion yuan, up 4.4% YOY; state-owned enterprises made the value 520 million yuan, down 32.6% YOY.

(4) Main imports were textile garment, primary plastics and agricultural products. This April, Ningbo imported from the ASEAN textile garments worth 260 million yuan, up 30%; primary plastics worth 220 million yuan, down 31.3%; agricultural products worth 200 million yuan, up 5.3%; the three together accounted for 38.4% of the total import.

(5) Main exports were electromechanical products and traditional labor-intensive products. This April, Ningbo exported to ASEAN electromechanical products worth 3 billion yuan, down 3.5%; traditional labor-intensive products worth 1.7 billion yuan, up 0.6%; the both together accounted for 73.9% of the total export.