Foreign trade
Ningbo city's total foreign trade value in 2000 was US$7.541 billion, up by 50.68 per cent over US$5.004 billion in 1999. The split between import and export was 31.5 per cent and 68.5 per cent, as the city's foreign trade is largely export-driven.
Total export value was US$5.168 billion,up by 48.61 per cent on US$3.477 billion in 1999. It was equivalent to 36 per cent of the city's GDP, which was RMB119.15 billion (US$14.355 billion).
Export of primary products amounted to US$395 million, 7.64 per cent of the total export value. Export of manufactured products came to US$4.77252 billion, or 92.36 per cent of the total export value.
Goods were exported to 183 countries and regions . The city was less dependent on the top five export markets (see Table 7.38.2) than before. These markets accounted for less than 50 per cent of the total export value, while in 1995 the figure had been nearer 70 per cent.
| Country/region | Export value (US$ million) | % of export total |
|---|---|---|
| 1995 | ||
| Hong Kong | 624.51 | 26.36 |
| Japan | 490.25 | 20.69 |
| USA | 201.69 | 8.51 |
| Republic of Korea | 182.11 | 7.69 |
| Germany | 89.40 | 3.77 |
| Total | 1,587.96 | 67.02 |
| 2000 | ||
| Japan | 973.19 | 18.83 |
| USA | 785.21 | 15.19 |
| Hong Kong | 309.79 | 5.99 |
| Germany | 234.52 | 4.54 |
| UK | 174.28 | 3.37 |
| Total | 2,476.99 | 47.92 |
Total import value increased by 55.41 per cent from US$1.527 billion in 1999 to US$2.3731 billion in 2000. Import of primary products amounted to US$779.94 million, 32.87 per cent of total import value. The import value of manufactured products was US$1.59316 billion, or 67.13 per cent of the total import value.
Imports came from 91 countries and regions, of which 25 sold over US$10 million worth of goods to the city. The aggregate of the top 25 import markets came to a total of US$2.26158 billion, 95.3 per cent of the city's total import value. The top five markets (see Table 7.38.3) played an even greater role as they captured about 64 per cent of the city's import spending. Japan had again replaced Hong Kong at the top, with 16.48 per cent of the city's total import value.
| Country/region | Import value (US$ million) | % of import total |
|---|---|---|
| 1995 | ||
| Hong Kong | 202.87 | 18.26 |
| Republic of Korea | 152.88 | 13.70 |
| Indonesia | 129.64 | 11.67 |
| Japan | 116.52 | 10.49 |
| USA | 71.49 | 6.43 |
| Total | 673.4 | 60.55 |
| 2000 | ||
| Japan | 390.99 | 16.48 |
| Taiwan Province | 348.06 | 14.67 |
| Republic of Korea | 312.98 | 13.19 |
| USA | 283.32 | 11.94 |
| Indonesia | 183.93 | 7.75 |
| Total | 1519.28 | 64.03 |
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