ASEAN became China’s biggest trading partner as of August
From January to August, China’s total trade volume with ASEAN reached USD 417 bn
ASEAN became China's largest trading partner during the first eight months of 2020, which happens for the first time, data from the Ministry of Commerce shows. From January to August, China’s total trade volume with ASEAN reached USD 417bn, growing by 3.8% y/y.
In August alone, China’s exports to ASEAN stood at USD 33.9bn, slightly less than the July figure, but much more compared to a year earlier (USD 30bn). China’s import from ASEAN stood at USD 25.9bn in August 2020 compared to USD 25.5bn in August 2019.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q3 2020 report.