Asean remains China’s No. 1 trade partner, accounting for 14.6% of total trade

Train to the Future: Logistics hub Zhengzhou, Central China’s Henan Province, sent its first international cargo train to Laos via the China-Laos Railway on March 2022. Global Times

Global Times – Asean remains China’s largest trade partner, accounting for 14.6 percent of China’s total foreign trade in the first four months of 2022, with the EU and the US ranking second and third, according to the latest customs statistics on Monday.

China-Asean trade totalled 1.84 trillion yuan ($274.5 billion) from January to April, up 7.2 percent year-on-year.

And in the first quarter of 2022, China’s imports and export with ASEAN reached 1.35 trillion yuan, up 8.4 percent year-on-year and accounting for 14.4 percent of China’s total foreign trade. In the first two months of this year,
Asean lagged behind the EU by about 3 billion yuan, temporarily becoming China’s second-largest trading partner.

Analysts said that Aseans return as China’s largest trade partner shows that China-ASEAN economic and trade relations still enjoy significant vitality and strong resilience. The RCEP, effective from January 1 this year, will release more dividends to China-Asean trade in the future.

Asean became China’s largest trading partner in 2020 for the first time, while China has been Aseans largest trade partner for 13 consecutive years since 2009.

China’s foreign trade with the EU reached 1.73 trillion yuan in
the first four months, up 6.8 percent on a yearly basis. China-US trade totalled 1.56 trillion yuan, up 8.7 percent year-on-year and China’s trade with South Korea reached 764.92 billion yuan, up 8.4 percent year-on-year.

Source: Global Times / khmer times