ASEAN’s 4-Trillion-Dollar Trade System: East-West Crossroads of Global Commerce
ASEAN has almost doubled its trade since 2010 and has strengthened ties with China and the U.S., cementing the bloc’s position as an East-West trading nexus.
ASEAN has almost doubled its trade since 2010 and has strengthened ties with China and the U.S., cementing the bloc’s position as an East-West trading nexus.
ASEAN’s trade has surged to nearly USD 4 trillion in 2024 while developing a uniquely balanced structure.
With Minerals & Fuels and Metals flowing out to Asia and manufactured goods flowing in, Australia’s trade profile is increasingly tied to China and Asian markets.
In 2024, the top ten importers bought nearly USD 700 billion more than the top ten exporters supplied.
The EU dominates both markets, while the U.S. and Brazil remain strong exporters. China plays a larger role as an importer.
China’s rise from 4% of world exports in 2000 to nearly 16% in 2024 reflects a two-decade structural transformation.
China’s accession to the WTO accelerated its shift from the “workshop of the world” to a central node of manufacturing, production and demand.
As the world’s leading importer, U.S. imports over nearly four decades have reflected the evolving patterns of global trade.
India’s trade deficit widened to a record USD 41.7 billion in October 2025, driven by a sharp jump in gold imports to USD 14.7 billion.
Of China’s USD 3.6 trillion in exports in 2024, these were the top five export categories and products—and the largest buyers for each.