China-ASEAN trade rose to US$597 billion in first seven months of this year

Trade between China and the Association of Southeast Asian Nations (ASEAN) has reached US$597 billion in the first seven months of this year, marking an 8.2 per cent year-on-year increase, official statistics reveal. This is reported by VNA, a partner of TV BRICS.

This trade volume now accounts for 16.7 per cent of China’s total foreign trade during the period, highlighting the growing importance of this economic partnership.

Experts state that China has maintained its position as ASEAN's top trading partner for the past sixteen years, while ASEAN has consecutively held the title of China's largest trading partner for the last five years, demonstrating a mutually beneficial and increasingly interconnected economic relationship.

Data reveals that in the past year, bilateral trade between China and several key ASEAN nations, including Vietnam, Malaysia, Indonesia, and Thailand, each surpassed the significant milestone of US$100 billion. Trade with Vietnam and Malaysia even exceeded US$200 billion.

Photo: peshkov / iStock