China Balance of Trade

Last Release

May 31, 2025

Actual

103.22

Units In

USD HML

96.18

Frequency

Monthly

Next Release

Jul 12, 2025

Time to Release

1 Months 0 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
170.52 Feb 2025	-61.99 Feb 2020	17.57 USD HML	1981-2025	General Administration of Customs

Since 1995, China has been recording consistent trade surpluses which from 2004 to 2009 has increased 10 times. In 2019, China posted a trade surplus of USD 421.9 billion, the biggest since 2016, as exports increased 0.5 percent and imports fell 2.7 percent on weak domestic demand and trade tensions with the US. The biggest trade surpluses were recorded with the US, Hong Kong, the EU - in particular the Netherlands, the UK, Poland, Spain, Italy and Belgium - India, Vietnam, the Philippines, Singapore, the UAE, Pakistan, Turkey and Indonesia. The largest deficits were recorded with Taiwan, Australia, South Korea, Brazil, Saudi Arabia, Japan, Germany, Switzerland, Malaysia, Oman, Chile and Russia.

Latest Updates

China's trade surplus widened sharply to USD 103.22 billion in May 2025, up from USD 81.74 billion in the same period a year earlier and exceeding market expectations of USD 101.3 billion, as exports rose while imports dropped more than anticipated. Exports grew by 4.8% yoy, slightly below estimates of 5.0%, and down sharply from the 8.1% growth recorded in April. The slowdown was largely due to weakened shipments to the US, impacted by Trump-era tariffs and ongoing uncertainty surrounding trade negotiations between Washington and Beijing. Meanwhile, imports fell by 3.4%—more than the expected 0.9% decline—following a 0.2% fall in April. China’s trade surplus with the US narrowed to USD 18 billion in May, down from USD 20.46 billion in April, as exports and imports plunged by 34.5% and 18.1%, respectively. For the first five months of 2025, China recorded a total trade surplus of USD 471.9 billion, with exports rising 6.0% and imports falling 4.9% compared to the same period in 2024.