China had record trade surplus in 2025
China’s trade surplus rose to almost US$1.2 trillion ($A1.8 trillion) in 2025 as exports rose in December.
Customs data show China’s global surplus increased by 20 percent from the previous year, with exports at US$3.77 trillion and imports at US$2.58 trillion.
The 2024 trade surplus was $992 billion.
China’s December exports increased by 6.6 percent compared to the previous year; This was better than economists’ forecasts and above the 5.9 percent annual increase in November.
Imports in December increased by 5.7 percent annually, compared to 1.9 percent in November.
Economists expect exports to continue supporting China’s economy in 2026 despite trade frictions and geopolitical tensions.
“We continue to expect exports to be a major growth driver in 2026,” said Jacqueline Rong, chief China economist at BNP Paribas.
While Chinese exports to the United States have fallen sharply since President Donald Trump returned to office and escalated a trade war with the world’s second-largest economy, the decline has been largely offset by shipments to other markets in South America, Southeast Asia, Africa and Europe.
Strong exports have helped China’s economy grow at a rate close to its official target of 5 percent annually, but have also triggered alarm in countries that fear cheap imports will hurt local industries.
The head of the International Monetary Fund in December called on China to correct its economic imbalances and accelerate the shift away from export dependence by boosting domestic demand and investment.
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