China's 2025 Trade Surplus Reaches Record $1.2 Trillion

China's trade surplus reached a record 1.2 trillion dollars in 2025, government data showed on January 14, 2026, driven by robust exports that offset declines in shipments to the United States amid escalating tariffs. The figure marked a more than 20 percent increase from the 992 billion dollars recorded in 2024, with exports totaling 3.77 trillion dollars, up 5.5 percent from the previous year, while imports remained nearly flat at 2.58 trillion dollars.

The surplus first surpassed 1 trillion dollars through the first 11 months of 2025, reaching 1.08 trillion dollars, before climbing further in December. That month, exports rose 6.6 percent year-on-year in dollar terms, exceeding economists' median forecast of 3.1 percent, according to data from China's General Administration of Customs. Imports also increased more than anticipated, by 5.7 percent, resulting in a monthly surplus of 114 billion dollars, the third-highest on record.

The growth occurred despite a sharp drop in exports to the United States, which fell about 20 percent for the year following President Donald Trump's return to office and his escalation of tariffs starting in April 2025. Shipments to the U.S. had...