China Balance of Trade

Last Release

Nov 30, 2025

Actual

111.68

Units In

USD HML

90.07

Frequency

Monthly

Next Release

Jan 13, 2026

Time to Release

1 Months 3 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
170.52 Feb 2025	-61.99 Feb 2020	18.5 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 topped a record $1 trillion in the first 11 months of the year despite a deepening slump in shipments to the US with exports rising 5.4% while imports shrank 0.6%. In November alone, the surplus reached $112 billion, the third-largest on record and well above expectations, as exports rose more than imports. Exports increased 5.9% yoy, beating forecasts for 3.8% growth and rebounding from a 1.1% fall in October, boosted by a surge in shipments to non-US markets amid governments’ efforts to diversify export destinations since Trump won last November's presidential election and to deepen trade ties with ASEAN and the EU. Meanwhile, shipments to the US slumped by 28.6%, marking the 8th straight month of double-digit declines. Imports rose 1.9%, below expectations for a 2.8% rise but above the 1.0% gain in October. China’s trade surplus with the US fell to USD 23.74 billion in November, down from USD 24.76 billion in October.