BEIJING, Aug 7 — China’s trade volume with the member states of the Association of Southeast Asian Nations (Asean) increased by 8.2 per cent year-on-year in January-July, reaching US$596.99 billion (RM2.52 trillion), according to the TASS news agency, citing the General Administration of Customs of China.
Chinese exports to Asean countries rose by 13.5 per cent, totalling US$377.03 billion (RM1.59 trillion). The flow of goods in the opposite direction grew by just 0.2 per cent, reaching US$219.96 billion (RM931.1 billion). As a result, China’s trade surplus for the reporting period amounted to US$157.07 billion (RM664.9 billion), an increase of 40.6 per cent compared to January-July 2024.
In July alone, China’s trade turnover with Asean amounted to US$86.03 billion (RM364.2 billion), down 5.2 per cent from June.
TASS reported that Vietnam remains China’s leading trading partner among Asean members. From January through July, bilateral trade between the two countries reached US$161.02 billion or RM681.6 billion (up 11.2 per cent).
Chinese exports to Vietnam totalled US$110.06 billion (RM465.9 billion), marking a 20.7 per cent increase, while imports from Vietnam declined by 5.1 per cent to US$50.96 billion (RM215.7 billion).
Vietnam is followed by Malaysia (US$116.83 billion or RM494.5 billion) and Thailand (US$89.41 billion ot RM378.5 billion) in terms of trade volume with China among Asean countries over the seven-month period.
Asean, along with the European Union, the United States, and Russia, is considered one of China’s key foreign trade partners. In 2023, China’s trade with Asean members declined by 4.9 per cent, but rebounded in 2024 with a 7.8 per cent increase, reaching US$982.33 billion (RM4.15 trillion).
