China’s Trade Surplus Jumps to USD133.5B as Exports Soar 36 Percent
Exports surged 36.3% from a year earlier to $447.1 billion, while imports leapt 31% to $313.6 billion.
Wang Jun, spokesperson and vice president of the customs authority, attributed the export surge in a recent statement to strong global demand for artificial intelligence (AI) and electrical infrastructure, which lifted orders for chips and components.
Shipments to the US rose 39.5%. Exports to the Association of Southeast Asian Nations (ASEAN) soared 52.2%, and those to EU countries gained 25.2%. Imports have climbed since the start of the year as global energy and raw material prices rose.
Through the first nine months, China has booked a $938.1 billion surplus. It is on track for another record this year after hitting $1.19 trillion in 2025.
Inflation data painted a mixed picture. The consumer price index (CPI) rose 0.9% year-on-year last month, picking up modestly from the previous month but missing expectations, a sign that domestic consumption remains weak. The producer price index (PPI) gained 5% year-on-year in September, its steepest rise since June 2022 and above the 3.8% forecast.
Analysts say policymakers may need to add policy support to hit both short- and long-term growth targets.
Lynn Song, chief economist for China at ING Group, told a news agency that core trade ties are expected to hold steady through year-end, keeping this year’s main growth engine running. He said exports to the US continued to recover while the trade agreement stays in effect.
“China’s exports have evolved significantly over the past decade, both by product breakdown and by destination,” he said. “As China moves up the value-added ladder, its fastest-growing exports increasingly include higher-margin goods, while low-end manufacturing is moving elsewhere in the region.”
Song said imports grew 27.5% year-on-year over the first three quarters to $2.43 trillion. “Compared with early-year expectations, imports have been the biggest surprise this year,” he said.
“Technology products remained the main driver of import growth, suggesting China continues to spend in the ongoing tech race,” he noted.
“Yet the subsequent pickup in exports in recent months has set China up to build on last year’s record-breaking $1.2 trillion trade surplus this year,” he added.
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