By Zhao Yu

Ningbo's foreign trade grew steadily in the first quarter, with total imports and exports reaching 369.38 billion yuan, up 5.9% year on year, according to data released by Ningbo Customs on April 17.

Exports rose 2.5% to 243.69 billion yuan, while imports increased 13.1% to 125.69 billion yuan.

In Q1, all types of business entities saw growth in imports and exports. Private enterprises accounted for the bulk of trade, with imports and exports totaling 283.5 billion yuan, up 5.1% year on year and representing 76.8% of the city's total.

Foreign-invested enterprises posted 62.56 billion yuan in international trade, an increase of 8.9%, while state-owned enterprises recorded 23.15 billion yuan, up 7.1%.

A more diversified trade structure helped underpin growth, with emerging markets contributing strongly. Trade with the European Union, Ningbo's largest trading partner, rose 6.9% to 64.76 billion yuan. Trade with ASEAN totaled 53.21 billion yuan, up 10.6% year-on-year. Notably, trade with Indonesia and Vietnam each exceeded 10 billion yuan, growing by 17.2% and 16% respectively year-on-year. Trade with Africa reached 23.9 billion yuan, up 20.1% year-on-year.

Mechanical and electrical products remained the main driver of export growth. Exports in this category rose 4.2% to 144.89 billion yuan, accounting for 59.5% of Ningbo's total exports.

Shipments of the so-called "new trio" products — electric vehicles, lithium-ion batteries and photovoltaic products — surged 144% year on year to 15.44 billion yuan in Q1. Among them, electric vehicle exports jumped 233.5% to 9.57 billion yuan, lithium-ion batteries rose 50.1% to 3.33 billion yuan, and photovoltaic products increased 105% to 2.54 billion yuan.

On the import side, stronger demand from manufacturing and investment drove growth in key commodities. Imports of metal ores and concentrates rose 14.1% to 14.92 billion yuan, while unwrought copper and copper products increased 13.5% to 11.8 billion yuan. Imports of natural and synthetic rubber climbed 19.4% to 1.27 billion yuan, and glass and glass products surged 66.8% to 1.26 billion yuan.