ASEAN – China trade grows sharply


Trade turnover between ASEAN and China in the first 8 months of 2022 reached 4.090 billion yuan (approx. 587,71 billion USD), up 14% over the same period last year, accounting for 15% of China's total trade turnover, thereby helping ASEAN maintains as the largest trading partner of China.

Statistics released by the General Administration of Customs of China today (September 7th) show that in the first eight months of 2022, the country's total import and export turnover reached 27.300 billion yuan (about 4.190 billion USD). up 10.1%; in which, exports reached 15.480 billion yuan, imports reached 11.820 billion yuan, up 14.2% and 5.2% respectively; trade surplus reached 3.660 billion yuan, up 58.2% over the same period last year.

Trade between China and its main partners has maintained growth momentum. Besides ASEAN as the largest trading partner, trade turnover between China and the EU, US and South Korea reached respectively 3.750 billion yuan (up 9,5%), 3.350 billion yuan (up 10,1%), 1.600 billion yuan (up 7,8%).

Notably, the private sector's trade increased rapidly, making a great contribution to foreign trade growth, reaching a turnover of 13.680 billion yuan, up 14,9%, accounting for 50,1% of the total turnover. Meanwhile, foreign-invested enterprises achieved turnover of 9.170 billion yuan, up 2,4%, accounting for 33,6%, State-owned enterprises achieved turnover of 4.400 billion yuan, up 15,1%, accounting for 16,1% of the proportion.

In the import-export structure, the group of mechanical, machinery and electronic products achieved turnover of 8.750 billion yuan, up 9,8%, accounting for 56,5%; The group of labor-intensive export products (such as textile, garment, and plastic products) achieved turnover of 2.810 billion yuan, up 14,1%, accounting for 18,1%. Some energy and food commodities saw decreased turnover, such as iron ore, crude oil, coal, gas, and soybeans.


Other articles

Contact Us

Booking ALS expert's advice