China Balance of Trade

Last Release

Oct 31, 2024

Actual

95.27

Units In

USD HML

81.71

Frequency

Monthly

Next Release

Dec 07, 2024

Time to Release

28 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
125.16 Feb 2024	-61.99 Feb 2020	16.48 USD HML	1981-2024	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 jumped to USD 95.27 billion in October 2024 from USD 56.13 billion in the same period a year earlier, surpassing expectations of USD 75.1 billion. It was the largest trade surplus since June, mainly due to a jump in exports. Sales surged 12.7% yoy, far above forecasts of 5% to mark the fastest pace since July 2022 and after a 2.4% gain in September, as manufacturers are front-loading orders in anticipation of further tariffs from the US and the EU. Meanwhile, imports fell 2.3%, reversing from a 0.3% rise in September and missing consensus of a 1.5% fall due to weak domestic demand. The trade surplus with the US widened slightly to USD 33.50 billion in October from USD 33.33 billion in September. For the 1st ten months of 2024, the trade surplus was at USD 785.3 billion, with exports rising 5.1% to USD 2.93 trillion while imports grew at a softer 1.7% to USD 2.14 trillion. During the period, the trade surplus with the US stood at USD 291.38 billion.