Zhejiang-ASEAN trade rises 23.6%

Zhejiang's trade with the Association of Southeast Asian Nations member states reached 692.12 billion yuan ($103.27 billion) in the first eight months of 2026, up 23.6 percent year-on-year, according to Hangzhou Customs.

ASEAN accounted for 43.2 percent of Zhejiang's foreign trade growth, the largest contribution among its trading partners. Exports to ASEAN rose 25 percent to 487.69 billion yuan, while imports increased 20.4 percent to 204.43 billion yuan.

ASEAN has remained Zhejiang's largest source of imports since 2024. In the first eight months, its share of the province's imports rose 2.3 percentage points to 21.4 percent, exceeding 20 percent for the first time for the January-August period. Imports from ASEAN contributed 3.9 percentage points to Zhejiang's overall import growth.

Meanwhile, export growth to ASEAN remained in double digits for five consecutive months from April through August. Exports of lithium-ion batteries and electric vehicles surged by 160 percent and 140 percent, respectively, in the first eight months.