ASEAN becomes China’s 2nd biggest trading partner

Beijing (VNA) - ASEAN became China’s second-largest trading partner in the first two quarters of 2019, overtaking the US for the first time since 1997.

According to China’s customs statistics, trade turnover between ASEAN and China increased 10.5 percent to 294 billion USD in the first half of 2019, accounting for 13.5 percent of the Asian country’s total trade volume.

Meanwhile, China’s trade with the EU rose 11.2 percent to 339 billion USD, accounting for 12 percent of the country’s total trade volume. Since 2004, the EU has become the first largest trading partner of China.

During the same period, China’s trade with the US dropped 9 percent to 264 billion USD, accounting for 12 percent of the country’s total trade volume.

In June alone, China’s exports to the US fell by 8 percent year-on-year, and imports from the US slumped by 31 percent. - VNA