China's trade with the Association of Southeast Asian Nations (ASEAN) has surged by 9.6 per cent year-on-year (YoY) during first two months of 2023, reaching a total value of 951.93 billion yuan (approximately $137.25 billion), accounting for 15.4 per cent of the country's foreign trade, according to China’s official customs data. The country’s total trade during the same period has seen a slight decline of 0.8 per cent YoY, with a total value of 6.18 trillion yuan.
During the first two months of 2023, China’s overall exports increased by 0.9 per cent compared to the previous year, reaching a total value of 3.5 trillion yuan, while imports declined by 2.9 per cent to 2.68 trillion yuan. As a result, the country's trade surplus expanded by 16.2 per cent on a yearly basis, reaching 810.32 billion yuan, as per the General Administration of Customs.
The country’s trade with the US, the European Union (EU), and Japan has decreased by 10.6 per cent, 2.6 per cent, and 5.7 per cent, respectively. The trade values in this regard were 702.98 billion yuan, 851.09 billion yuan, and 344.92 billion yuan.
Fibre2Fashion News Desk (DP)