BEIJING, 14 January 2026 — China reported a record-breaking trade surplus of US$1.19 trillion in 2025, marking the first time its annual surplus has surpassed the US$1 trillion milestone, driven by resilient export growth despite global trade tensions and a shift in Chinese export markets.
According to official customs figures released on Wednesday, China’s exports grew by 5.5 per cent year-on-year in 2025 to approximately US$3.77 trillion, slightly exceeding market forecasts. At the same time, imports remained robust, rising to about US$2.58 trillion, also beating expectations for a modest decline.
The cumulative trade surplus, the difference between exports and imports, demonstrates the strength of China’s export-oriented economy and its manufacturers’ ability to diversify markets beyond traditional buyers such as the United States. This export performance helped sustain a substantial annual trade surplus, even in the face of renewed tariff pressures from the U.S. administration, which have dampened shipments to that market.
In December alone, China’s outbound shipments recorded a 6.6 per cent year-on-year increase, outperforming earlier projections and the growth seen in November, while imports rose 5.7 per cent in the same month. The December trade surplus reached US$114 billion, highlighting the continued strength in foreign trade as 2025 came to a close.
Economists said that China’s ability to sustain export growth reflects its diversification into emerging markets such as Southeast Asia, Africa and Latin America, where demand for Chinese manufactured goods has increased, helping offset declines in U.S.-bound exports. They also noted strong global demand for manufactured goods like electronic products, low-grade chips and electric vehicles.
Despite the impressive surplus, Beijing has acknowledged concerns about global trade imbalances and has taken steps, including changes to export rebate policies and amendments to trade laws, to address criticism and align more closely with international trade norms.
The record surplus underscores China’s ongoing role as a key driver of global trade and signals that its manufacturers and exporters remain competitive across a range of markets, even amid geopolitical tensions and protectionist trade policies abroad.
