China Balance of Trade

Last Release

Mar 31, 2025

Actual

102.64

Units In

USD HML

170.52

Frequency

Monthly

Next Release

May 09, 2025

Time to Release

22 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
170.52 Feb 2025	-61.99 Feb 2020	17.26 USD HML	1981-2025	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 surged to USD 102.64 billion in March 2025, up from USD 58.65 billion in the same period a year earlier, exceeding market expectations of USD 77 billion. The sharp increase was largely driven by a 12.4% year-on-year surge in exports, the fastest rise since last October, surpassing market forecasts of a 4.4% gain, as factories rushed to ship goods ahead of U.S. President Trump's upcoming tariffs. Meanwhile, imports fell by 4.3%, compared to market expectations of a 2% drop and following an 8.4% slump in the January–February period, due to weak domestic demand. The trade surplus with the US stood at USD 27.58 billion in March. For the first quarter of the year, the country posted a USD 273 billion surplus, with exports rising 5.8% while imports falling 7.0%. During the period, the trade surplus with the US reached USD 76.65 billion, as exports advanced 4.5% while imports declined 1.4%.