(Yicai Global) June 7 -- Trade between China and central and eastern European countries will reach USD150 billion a year by 2025, a 45 percent increase from 2020, according to a recent report.

Trade between China and CEE countries has been on the rise since 2012 and China is now the CEEC’s biggest trading partner outside of Europe, according to a report released by the Chinese Academy of International Trade and Economic Cooperation today.

Last year, China-CEEC trade exceeded USD100 billion for the first time to USD103.45 billion, and it has been increasing at an average annual growth rate of 8 percent since 2012, more than double the growth rate of China’s trade with the European Union.

Cumulative Chinese imports from CEE countries are on track to hit USD176.9 billion over the next five years, the think tank said.

China imported USD27.5 billion worth of goods from CEE countries in 2020, double what it did in 2012. The Slovak Republic, the Czech Republic and Poland are the three top exporters in the region to China, accounting for 57.8 percent of total imports. Meanwhile exports gained 79.12 percent from 2012 to USD75.95 billion.

Editor: Kim Taylor