Imports and Exports of Local Enterprises Significantly Increased

July 12, 2023

Summary:

(Reporter Zheng Yan) On May 19, the reporter learned from the Autonomous Regional Bureau of Statistics that from January to April, the total value of foreign trade in our region reached 1.845 billion U.S. dollars, an increase of 61.9% year-on-year. The highlight is that the import and export of local companies has increased significantly, and the enterprises in the comprehensive bonded area have achieved significant growth. The electromechanical and high-tech products have maintained a double growth.

According to Yinchuan Customs statistics, from January to April, our district exported 1.609 billion U.S. dollars, imported 236 million U.S. dollars, and realized a trade surplus of 1.373 billion U.S. dollars. Among them, the total amount of import and export of Ningxia's local corporate enterprises was US$760 million, an increase of 30.2% over the same period of last year. In the month of April, the growth rate of imports and exports of local enterprises accelerated on the basis of the growth of the previous month. The total import and export volume reached 340 million U.S. dollars, a record high, which was a year-on-year increase of 1.1 times.

New enterprises in Yinchuan Comprehensive Insurance Zone have boosted the growth of foreign trade data in the region. At the same time, the electromechanical and hi-tech products in our district have maintained a double growth. The main products for export are metal products, electrical appliances, electronic products and mechanical equipment, etc. The main products for imports are mechanical equipment. Among the 19 key export commodities monitored in our district, tylosin, activated carbon, and magnesium metal have increased by more than 20% under the influence of multiple favorable factors such as taxation policies, prices, and external demand. However, there are still 11 kinds of merchandise exports falling, cashmere sweaters and cashmere yarns still fall more than 50%.

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