Guangxi trade with ASEAN members hits record high

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Last updated at: (Beijing Time) Wednesday, January 21, 2004

Guangxi trade with ASEAN members hits record high

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Trade between south China's Guangxi Zhuang Autonomous Region and members of the Association of Southeast Asian Nations (ASEAN) hit a record 826 million US dollars in 2003, marking five years of consecutive growth, customs figures show.

The trade volume was 31.5 percent higher than the previous year.

The principal imports from ASEAN nations were industrial raw materials, while electronic and machinery products were the major exports, accounting for 30 percent of the region's total exports to ASEAN.

Border trade made up 65 percent of Guangxi's total imports and exports to ASEAN members. Border trade exports rose 52.7 percent to 314 million US dollars, while imports grew 59 percent to 221 million dollars.

Vietnam continued to be Guangxi's largest trade partner of the 10 ASEAN members. The total trade volume between Guangxi and Vietnam stood at 666 million dollars last year, accounting for 81 percent of Guangxi's total trade with ASEAN.

A customs official estimated trade between Guangxi and ASEAN members would see a sharp rise this year as a result of scrapping tariffs on fruit traded between China and Thailand since October last year.

Source: Xinhua

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