A bird's eye view of Beilun Port Area of Ningbo Zhoushan Port. [Photo/Xiang Lianmei]

Ningbo's total import and export value reached 1.42 trillion yuan ($193.68 billion) in 2024, an 11.1-percent increase from the previous year, placing the city fifth in China's national foreign trade rankings.

During this period, exports were 945.53 billion yuan, up by 14.1 percent, and imports reached 474.72 billion yuan, growing 5.6 percent. December saw a 22.4-percent rise in trade, totaling 128.35 billion yuan.

Private enterprises led the charge,

with 2024's import and export value expanding 13 percent to 1.09 trillion yuan, accounting for 76.6 percent of the city's total. Foreign-invested firms saw an 8.7-percent increase, with trade valued at 242.3 billion yuan.

Ningbo's trade with top three partners—the United States, the European Union, and ASEAN—remained robust, contributing 47.2 percent to the city's total trade. Growth rates for these partners were 15.3 percent, 11.4 percent, and 20.7 percent, respectively.

Exports of traditional products remained strong. Electromechanical product exports grew by 14.8 percent to 540.12 billion yuan, making up 57.1 percent of total exports. Container exports skyrocketed by 393.6 percent, while lithium-ion battery exports increased by 33.8 percent.

Labor-intensive export products also saw growth. Textiles and apparel, plastic products, furniture/furniture parts, toys, and footwear exports were 103.41 billion yuan, 52.03 billion yuan, 28.07 billion yuan, 14.73 billion yuan, and 8.95 billion yuan, with growth rates of 8.6 percent, 13 percent, 22.7 percent, 22.2 percent, and 16.8 percent respectively. Imports of key resources and raw materials, such as metal ores and natural gas, maintained stable growth.