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ASEAN will remain China's largest trading partner in 2021(Special topic on import and export monitoring and analysis)

 According to customs statistics, in 2021, China's imports and exports to ASEAN will reach 5.67 trillion yuan, exceeding 5 trillion yuan for the first time, an increase of 19.7% over 2020 (the same below), accounting for 14.5% of China's total import and export value, ranking first in China. big trading partner. Among them, exports were 3.12 trillion yuan, an increase of 17.7%; imports were 2.55 trillion yuan, an increase of 22.2%. In December, the import and export to ASEAN reached 571.77 billion yuan, a record high in a single month, with an increase of 12.8%. Among them, exports were 318.26 billion yuan, an increase of 8.8%; imports were 253.51 billion yuan, an increase of 18.3%.

First, the import and export scale with 8 ASEAN countries including Vietnam and Malaysia has reached a record high. In 2021, China's import and export value to Vietnam, Malaysia, Thailand, Indonesia, the Philippines, Cambodia, Laos and Brunei 8 ASEAN countries will be 1.49 trillion, 1.14 trillion, 847.69 billion, 803.84 billion, 530.14 billion, 88.31 billion, 280.9 RMB 18.39 billion and RMB 18.39 billion, up 12%, 25.6%, 24%, 48%, 25.2%, 33.6%, 13.5% and 36.6% respectively, and the scales all hit record highs.




 Second, intermediate products are the main force driving export growth. In 2021, China's exports of intermediate products to ASEAN will be 1.82 trillion yuan, an increase of 22.1%, and the growth rate will hit a new high in 11 years, driving the overall growth of China's exports to ASEAN by 12.4 percentage points, accounting for 58.2% of China's total exports to ASEAN that year. During the same period, ASEAN continued to be China's largest export market for intermediate products, 497.07 billion yuan higher than the second-ranked EU.


Third, the import of mechanical and electrical products accounted for nearly 50%, and the import of primary products such as energy, metal ores and ore sand grew rapidly. In 2021, China's imports of mechanical and electrical products from ASEAN will be 1.21 trillion yuan, an increase of 10.5%, driving imports to increase by 5.6 percentage points, accounting for 47.7% of China's total imports from ASEAN in that year (the same below). During the same period, imports of coal, crude oil and natural gas increased by 154.6%, 81.9% and 57.4% respectively, driving the overall increase in China’s imports from ASEAN by 3.5, 1.4 and 1 percentage points, accounting for 9.4% in total; imports of metal ores and mineral sands increased by 32.1% , driving the overall growth of China's imports from ASEAN by 0.7 percentage points, accounting for 2.2%.

Source: Official website of the General Administration of Customs of China

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