ASEAN becomes biggest trade partner of China in H1

The Association of Southeast Asian Nations (ASEAN) became China's biggest trading partner in the first half of this year, accounting for 14.7 percent of the nation's total foreign trade volume.

16, Jul. 2020

Photo by Tri Eptaroka Mardiana on Unsplash
Photo by Tri Eptaroka Mardiana on Unsplash

HANOI, VNA - China's trade with ASEAN stood at about 299 billion USD in the first six months, up 5.6 percent year on year. Exports to ASEAN rose 3.4 percent to some 164 billion USD, while imports climbed 8.5 percent to 134 billion USD.

According to insiders, the expansion was partly buoyed by growing farm produce trade with ASEAN members under the upgraded protocol of the China-ASEAN Free Trade Area, which came into effect in October 2019,. The farm produce trade between the two sides grew 13.2 percent in H1.

During the same period, China's trade with Vietnam jumped 18.1 percent, pushing the bilateral trade volume to the top place among ASEAN members. - VNA