In the first two months of the year, ASEAN remained China’s largest trading partner with bilateral trade reaching 951.93 billion yuan, a rise of 9.6% from a year earlier and accounting for 15.4% of China’s total foreign trade, according to China’s customs data on Tuesday.
In breakdown, China’s exports to ASEAN reached 570 billion yuan in the period, an increase of 17.9% yea over year, and imports from ASEAN totaled 381.93 billion yuan, a drop of 0.9%, showed the data.
The EU was China’s second largest trading partner in the first two months of the year, with a total trade value of 851.09 billion yuan, falling by 2.6% from a year earlier and accounting for 13.8% of China’s total trade, according to the data.
The US was China’s third largest trading partner, with a total trade value of 702.98 billion yuan, down 10.6% from a year earlier and accounting for 11.4% of China’s total trade.
Of that, China’s exports to the US reached 494.11 billion yuan, down 15.2%, while China’s imports from the US reached 208.87 billion yuan, up 2.8%, leaving the trade surplus at 285.24 billion yuan, narrowing by 24.9%.
Japan was China’s fourth largest trading partner, with a total trade value of 344.92 billion yuan, a decrease of 5.7%, accounting for 5.6%. of the total, showed the data.