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ASEAN becomes China's third largest trading partner

11
Jun '10
In the first five months of this year, bilateral trade between China and the EU reached US $177.49 billion, up 37.4 percent year on year. Over the same period, bilateral trade between China and the United States realized US $138.68 billion, up 28.2 percent year on year.

The Association of Southeast Asian Nations (ASEAN) overtook Japan to become China's third largest trading partner by a narrow margin. Total bilateral trade between China and ASEAN amounted to US $111.8 billion in the first five months, up 57.5 percent year on year.

Among them, China's exports to ASEAN registered US $52.7 billion, up 46.2 percent year on year; China's imports from ASEAN represented US $59.1 billion, up 69.1 percent year on year, showing a deficit of US $6.4 billion in trade with ASEAN, while China achieved a trade surplus of US $1.09 billion in the same period in 2009.

Over the same period, bilateral trade between China and Japan fetched US $111.56 billion, up 38.8 percent year on year. Among them, China's exports to Japan stood at US $44.96 billion, up 22.8 percent year on year; China's imports from Japan marked US $66.6 billion, up 52.3 percent year on year; to chalk up a trade deficit of US $21.64 billion.

Fibre2fashion News Desk - China


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