Ningbo-Vietnam trade surges 27.2% in first two months

Ningbo Customs officers visit an enterprise exporting to Vietnam. [Photo by Li Sibing/Yongpai App]

Trade between Ningbo and Vietnam posted strong growth at the start of the year, highlighting the resilience of bilateral economic ties.

According to Ningbo Customs, total trade between the two sides reached 7.52 billion yuan ($1.10 billion) in January and February, up 27.2 percent year-on-year. Exports rose 24.1 percent to 5.49 billion yuan, while imports jumped 36.3 percent to 2.03 billion yuan.

Natural and synthetic rubber remains a key import category. As a major automotive manufacturing hub, Ningbo has strong demand for high-quality rubber used in vehicle components.

On April 10, a local supply chain company imported 210 metric tons of rubber from Vietnam, benefiting from zero tariffs under the China-ASEAN Free Trade Agreement. The preferential policy reduced duties by over 230,000 yuan, underscoring Vietnam's competitiveness as a reliable source of raw materials.

In recent years, Ningbo has strengthened supply chain security in the auto parts sector, forming an integrated model that links rubber imports from Vietnam with local manufacturing and vehicle exports to ASEAN markets. During the first two months, Ningbo imported 540 million yuan worth of rubber from Vietnam, up 27.5 percent.

Meanwhile, local light industrial products are gaining traction in Vietnam. Early April saw a Ningbo firm export fabric drawers with tariffs reduced from 37.5 percent to zero, thanks to certificates of origin.

Customs authorities have also stepped up support through digital platforms and tailored policies. In the first quarter, 7,225 certificates of origin were issued for exports to Vietnam, covering 2.28 billion yuan, both rising by over 28 percent.