The first China-Europe freight train from Yinchuan, Ningxia Hui autonomous region, departs for Budapest, Hungary. [Photo provided to chinadaily.com.cn]
According to the statistics of Yinchuan Customs, Ningxia's foreign trade saw a total import and export value of 3.58 billion yuan (about $520.46 million) in the first two months, with a year-on-year growth rate of 6.7 percent, 7.5 percentage points higher than the national growth rate, ranking 14th in China.
Out of the total trade value, exports were 2.87 billion yuan, up year-on-year by 16.4 percent, while imports declined by 20.3 percent year-on-year, reaching a value of 710 million yuan.
In US dollars terms, the total import and export value of Ningxia's foreign trade in the first two months was $520 million, a year-on-year decrease of 1.5 percent. Between them, exports accounted for $420 million, indicating an increase of 7.4 percent year-on-year, while imports for $100 million, marking a decrease of 26.2 percent year-on-year.
Ningxia's imports and exports in the form of general trade totaled 3.21 billion yuan in the first two months, representing a 23.4 percent year-on-year increase and accounting for 89.6 percent of the region's total foreign trade value.
Imports and exports of private enterprises in Ningxia reached 2.49 billion yuan, making a 5 percent year-on-year increase and accounting for 69.7 percent of the total foreign trade value of that region. Imports and exports of State-owned enterprises were 600 million yuan, up by 31.7 percent year-on-year, accounting for 16.7 percent of the total foreign trade value.
In the first two months of this year, Ningxia's imports from and exports to ASEAN, the European Union, and the United States maintained significant growth. The hard-won achievements exemplified the strong resilience of Ningxia’s foreign trade.
In addition, Ningxia's imports and exports to countries along the Belt and Road amounted to 1.38 billion yuan, up by 41.8 percent year-on-year. Among them, imports from countries along the Belt and Road were valued at 110 million yuan, with a year-on-year increase of 71.9 percent, and exports reached 1.27 billion yuan, up by 39.8 percent over the previous year.
