Chinas trade ends 2025 with record $1.2T surplus despite Trump tariff jolt
China ended 2025 with a record trade surplus of nearly $1.2 trillion, underscoring the resilience of its export-driven economy despite renewed tariff pressure from the United States under President Donald Trump.
Customs data released on Wednesday showed the surplus reached $1.189 trillion, breaking the trillion-dollar mark for the first time in November and placing it on par with the annual economic output of a major global economy. The figure was driven largely by strong exports to markets outside the United States, as Chinese manufacturers accelerated efforts to diversify trade ties.
Beijing’s strategy of shifting exports toward Southeast Asia, Africa and Latin America helped cushion the impact of higher US tariffs and escalating trade and technology frictions. Exports in December rose 6.6 percent year on year, beating market expectations, while imports also surprised on the upside with a 5.7 percent increase, suggesting steadier demand for raw materials and intermediate goods.
Economists said China’s competitiveness remains strong, supported by productivity gains and advances in manufacturing technology, but also by weak domestic consumption that has left firms with excess capacity. Analysts cautioned that relying on overseas markets to offset a prolonged property slump and sluggish household demand may not be sustainable.
Rising trade surpluses are also likely to sharpen tensions with trading partners increasingly concerned about Chinese overcapacity and the flood of low-priced goods. Officials acknowledged these challenges but said broader trade diversification has improved China’s ability to withstand external shocks.
Looking ahead to 2026, economists expect Beijing to maintain its current policy stance in the near term, even as global scrutiny of China’s trade practices continues to intensify.
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