According to statistics from the China Customs Administration, in the first seven months of this year, the Association of Southeast Asian Nations (ASEAN) continued to hold the position of China's largest trading partner.

The total import and export turnover of goods between China and ASEAN from January to July 2024 reached 3,920 billion yuan, equivalent to about 546.6 billion USD, up 10.5% over the same period last year.

Unloading containers onto ships at Gemalink international port, Phu My town, Ba Ria-Vung Tau province. Photo: Hong Dat/VNA

Of which, China's export turnover to ASEAN reached 2,360 billion yuan (about 329 billion USD), up 13.7%, and in the opposite direction, China's import turnover from ASEAN reached 1,560 billion yuan (about 217.5 billion USD), up 5.9%.

The figures suggest that China and ASEAN are likely to remain each other's largest trading partners throughout 2024, after four consecutive years of holding this position.

Comparatively, China has been ASEAN's largest trading partner for 15 consecutive years, and ASEAN has risen to become China's largest trading partner for four consecutive years.

China and ASEAN are now the second and fifth largest economies in the world, respectively. Their combined economic size exceeds one-fifth of the world economy. They have also played an important role as drivers of global economic recovery in recent years.

In 2023, trade between China and ASEAN accounted for 15.4% of China's total international trade.

In the first seven months of 2024, this ratio increased to 15.8%, 2.8 percentage points higher than the trade turnover between China and the European Union (EU) - China's second largest trading partner and 4.8 percentage points higher than the trade turnover between China and the United States - China's third largest trading partner.

Among the 10 ASEAN member states, China's top three trading partners are currently Vietnam, Malaysia and Indonesia, with trade turnover increasing by 24.1%, 13.7% and 4.1% respectively in the first seven months of this year compared to the same period last year.