Latest customs statistics indicate, the Association of Southeast Asian Nations (ASEAN) remains China’s largest trade partner, accounting for 14.6 per cent of its total foreign trade in the first four months of 2022. It is followed by the European Union (EU) and the United States ranking second and third respectively
From January-April this year, the China-ASEAN trade totaled increased by 7.2 per cent Y-o-Y to 1.84 trillion yuan ($274.5 billion).
In Q1FY22, China’s trade with ASEAN increased by 8.4 per cent Y-o-Y to 1.35 trillion yuan and accounted for 14.4 per cent 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 ASEAN's 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.