MM Report
BEIJING: China has reported record exports for 2025, a year when US tariffs and trade policies under President Donald Trump caused turmoil in the global economy.
Beijing announced on Wednesday that its trade surplus—the value of goods and services sold overseas compared with imports—reached $1.19tn (£890bn), the largest ever recorded. It is the first time China’s full-year trade surplus has passed $1tn, surpassing 2024’s figure of $993bn.
China’s monthly export surpluses topped $100bn seven times last year, a sign that Trump’s tariff campaign had little effect on its overall trade with the world. While trade with the US did weaken, it was offset by rising exports elsewhere, particularly to South East Asia, Africa, and Latin America.
Wang Jun, deputy director of China Customs, called the figures “extraordinary and hard-won” given the “profound changes” and challenges in global trade. He noted strong growth in exports of green technology, artificial intelligence-related products, and robotics.
The record surplus reflects robust overseas demand, as exports to global partners—including South Asian countries, Africa, and Europe—grew. A weak domestic market also reduced the need for imports, which rose by just 0.5% last year.
Other factors bolstering Chinese exports included a weaker yuan, abundant supply of goods, and high inflation in Western countries, making Chinese products more competitive abroad.
Trade policy analyst Deborah Elms, from the Hinrich Foundation, described the results as a “mixed blessing” for Beijing. She said China had benefited from overseas sales and job creation, but its goods could face “greater scrutiny” from foreign markets pressured to compete.
