China had a record $1.2 trillion trade surplus in 2025

HONG KONG

Aerial view of a container terminal in Nanjing in eastern China's Jiangsu province, Wednesday, Jan. 14, 2026. (Chinatopix Via AP)

China’s trade surplus surged to a record of almost $1.2 trillion in 2025, the government said Wednesday, as exports to other countries made up for slowing shipments to the United States.

China's exports rose 5.5 percent for the whole of last year to $3.77 trillion, customs data showed, while imports flatlined at $2.58 trillion. The 2024 trade surplus was $992 billion.

Economists expect exports will continue to support China’s economy this year, despite trade friction and geopolitical tensions.

“We continue to expect exports to act as a big growth driver in 2026,” said Jacqueline Rong, chief China economist at BNP Paribas.

While China’s exports to the U.S. have fallen sharply for most of last year since President Donald Trump returned to office and escalated his trade war with the world’s second-largest economy, that decline has been largely offset by shipments to other markets in South America, Southeast Asia, Africa and Europe.

Strong global demand for computer chips and other devices and the materials needed to make them were among categories that supported China’s exports, analysts said.

China's strong exports have helped keep its economy growing at an annual rate close to its official target of about 5% . But that has triggered alarm in countries that fear a flood of cheap imports are damaging local industries.

The head of the International Monetary Fund last month called for China to fix its economic imbalances and speed up its shift from reliance on exports by boosting domestic demand and investment.