China Balance of Trade

Last Release

Nov 30, 2024

Actual

97.44

Units In

USD HML

95.27

Frequency

Monthly

Next Release

Jan 12, 2025

Time to Release

1 Months 0 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
125.16 Feb 2024	-61.99 Feb 2020	16.64 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 surged to USD 97.44 billion in November 2024 from USD 69.45 billion in the same period a year earlier, surpassing expectations of USD 95 billion. It was the largest trade surplus since June, as exports grew while imports fell. Sales rose 6.7% yoy, below forecasts of 8.5%, easing from a 12.7% jump in October, but marking the largest amount in 26 months, as manufacturers front-loaded orders in anticipation of further tariffs from the incoming US administration. Meanwhile, imports unexpectedly shrank 3.9%, following a 2.3% fall in October and missing estimates of a 0.3% rise due to weak domestic demand. The trade surplus with the US widened to USD 34.9 billion in November from USD 33.5 billion in October. For the 1st eleven months of 2024, the trade surplus was at USD 884.7 billion, with exports rising 5.4% to USD 3.24 trillion while imports grew at a softer 1.2% to USD 2.36 trillion. During the period, the trade surplus with the US stood at USD 326.8 billion.