Ningbo’s imports and exports to the Philippines declined across the board, while textile exports only rose .%
Affected by the Huangyan Island incident, Ningbo’s import and export to the Philippines declined overall. Statistics provided by Ningbo Customs the day before yesterday showed that in April, the total import and export volume of Ningbo Port to the Philippines was US$82.75 million, a year-on-year decrease of 21.7% and a month-on-month decrease of 21.3%.
In the first four months of this year, the total import and export volume of Ningbo Port to the Philippines totaled US$310 million, a year-on-year increase of 2.1%. Among them, imports were US$28.31 million, a decrease of 34.2%; exports were US$280 million, an increase of 8.2%.
Looking at the main import and export commodities, the import of unwrought copper and copper materials was US$10.09 million, a decrease of 64.5%; the import of scrap metal was US$6.979 million, an increase of 11.7%;
Exports of mechanical and electrical, audio-visual equipment and their spare parts were US$55.42 million, an increase of 15.3%; exports of textile raw materials and textile products were US$55.31 million, an increase of 1.1%.
Relevant people from Ningbo Customs believe that although trade with the Philippines accounts for a small proportion of the total foreign trade of Ningbo Port, because the sea area where Huangyan Island is located is adjacent to the Strait of Malacca, an important international shipping route, the subsequent impact of this incident on international shipping routes in the future deserves attention. .
Liang Yanfen, director of the Institute of International Economics and Trade of the Ministry of Commerce, said in an interview with the media that the current tense situation between China and the Philippines will bring many uncertainties to cargo transportation and commercial exchanges in the short term. We cannot rule out the possibility that Chinese importers may temporarily reduce or stop importing some goods from the Philippines because they are worried about the impact of cargo transportation and payment due to the unrest.
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