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China-ASEAN trade volume hits record high in 2017

Updated: Jan 29,2018 7:15 AM     Xinhua

BEIJING — Trade volume between China and ASEAN countries hit a record high in 2017, according to the Ministry of Commerce.

Bilateral trade totaled $514.8 billion last year, up 13.8 percent year on year, the fastest growth pace between China and any of its major trading partners.

China’s exports to ASEAN countries reached $279.1 billion in 2017, up 9 percent year-on-year, while imports grew 20 percent year-on-year, to $235.7 billion.

China registered a trade surplus of $43.4 billion with ASEAN countries, narrowing by 27.4 percent from 2016.

Vietnam, Malaysia and Thailand were China’s top trading partners in the region last year. Vietnam was China’s biggest export destination, while China imported more goods from Malaysia than other ASEAN countries.

China saw robust foreign trade in 2017, which ended the drops of the previous two years by gaining 14.2 percent year-on-year.