ASEAN-China trade volume hits record high in 2017

2/1/2018 - 10:20:30 AM

Trade volume between the Association of Southeast Asian Nations (ASEAN) and China hit a record high in 2017, according to the Chinese Ministry of Commerce.

Chinese and ASEAN flags (Source: cariasean.org)

Bilateral trade totalled 514.8 billion USD last year, up 13.8 percent year on year, the fastest growth pace between China and any of its major trading partners, Xinhua news agency quoted the ministry’s figure as saying.

China's exports to ASEAN countries reached 279.1 billion USD in 2017, up 9 percent year on year, while imports grew 20 percent year-on-year to stand at 235.7 billion USD.

China registered a trade surplus of 43.4 billion USD with ASEAN countries, narrowing by 27.4 percent from 2016.

Vietnam, Malaysia and Thailand were China's top trading partners in the region last year. Vietnam was China's biggest export destination while China imported more goods from Malaysia than other ASEAN countries.

China saw robust foreign trade in 2017, which ended the drops of the previous two years by gaining 14.2 percent year on year.

Source: VNA

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