Ningxia's foreign trade totaled 16.48 billion yuan ($2.28 billion) in the first 10 months of 2024, according to statistics from Yinchuan Customs.
Exports accounted for 11.92 billion yuan, while imports stood at 4.56 billion yuan. In October alone, Ningxia's foreign trade amounted to 1.62 billion yuan, a 6.1 percent increase year over year. Exports for the month were 1.23 billion yuan, up 14.1 percent, whereas imports were 390 million yuan, down 12.9 percent.
From January to October, general trade contributed 14.55 billion yuan, 88.3 percent of Ningxia's total foreign trade. Processing trade saw significant growth, with a 227 percent increase to 1.21 billion yuan, accounting for 7.3 percent of the total. Bonded logistics trade was valued at 680 million yuan, 4.1 percent of the total.
Ningxia's top three trading partners were ASEAN, the European Union, and the United States, with trade values of 2.71 billion yuan, 2.55 billion yuan, and 1.9 billion yuan, respectively. These figures represent 16.5 percent, 15.5 percent, and 11.5 percent of Ningxia's total foreign trade.
Trade with countries involved in the Belt and Road Initiative reached 6.94 billion yuan, while trade with African countries grew by 25 percent to 1.37 billion yuan, 8.3 percent of the total trade.
Yinchuan led the region with 9.43 billion yuan in foreign trade, representing 57.2 percent of the provincial total. Shizuishan, Zhongwei, Wuzhong, and Guyuan followed with trade values of 4.62 billion yuan, 1.65 billion yuan, 530 million yuan, and 240 million yuan, growing by 13.9 percent, 12.9 percent, 9.5 percent, and 10.9 percent, respectively.
Private enterprises also played a significant role. Their trade totaled 12.8 billion yuan, a 4 percent increase, accounting for 77.7 percent of Ningxia's total foreign trade.
Exports of basic organic chemicals and agricultural products saw double-digit growth, reaching 2.77 billion yuan, up 29 percent.
Agricultural product exports reached 1.41 billion yuan, growing by 18.5 percent. Vegetable exports increased by 14.1 percent, wine exports by 29.9 percent, and goji berries by 7.3 percent.
For imports, metal ores and concentrates were valued at 1.02 billion yuan, a 28.1 percent increase. Manganese grew by 32.4 percent, while niobium, tantalum, and vanadium ores increased by 40.9 percent.