China International Trade

Data Macro

Source: GACC
Source Link: http://www.customs.gov.cn/
Frequency: Monthly
Next Release(s): December 7th, 2025 10:00 PM

Latest Updates

China’s trade surplus was mostly unchanged at $90.1 billion in October (from $90.5 billion in September), falling short of expectations of an increase to $95.6 billion due to weakness in exports.
- Exports fell -8.1% MoM and -1.1% YoY (vs +3.0% YoY expected), down from a gain of 8.3% YoY in September.
- Imports dropped -9.5% MoM but were up 1.0% YoY (vs 3.2% YoY expected), down from a 7.4% YoY increase in September.
- Through October, exports are up 5.3% YoY, while imports are down -0.9% YoY.
- Total trade with the US fell -1.6% MoM and was down -24.7% YoY due to a decline in US imports from China which fell -11.6% MoM and -22.8% YoY, likely due to new tariff threats from Trump.
- So far this year, exports to ASEAN nations are up 14.2% YoY and exports to Belt and Road nations are up 10.5% YoY.
Source
China’s trade surplus fell to $90.45 billion in September, down from $102.33 billion in August and below expectations of a surplus of $98.96 billion as imports surged during the month.
- Exports increased 2.2% MoM and 8.3% YoY in September, up from 4.4% YoY in August and above expectations of a 6% YoY increase.
- Imports saw an unexpected jump of 8.5% MoM and 7.4% YoY in September, much higher than 1.3% YoY in August and well above the forecast of 1.5% YoY.
- Through September, Chinese exports are up 6.1% YoY, while imports are down -1.1% YoY.
- Trade with the US continues to be volatile. Total trade flows between the two nations increased 6.8% MoM in September but was down -24.6% YoY.
- In September, exports to the US jumped 8.6% MoM but were down -27.0% YoY, and imports from the US increased 1.8% MoM but was down -16.1% YoY.
- Exports to ASEAN nations have increased significantly so far this year, up 14.7% vs the same period last year.
- Additionally, countries associated with the Belt and Road initiative have seen exports rise on a YTD basis, up 11.4% vs the same period last year.
Source
China’s trade balance increased to $102.3 billion in August, up from $98.2 billion in July and above expectations of a slight increase to $99.2 billion.
- Total exports increased 0.1% MoM and 4.4% YoY, slowing from 7.2% YoY in July and below expectations of a 5.0% YoY increase.
- Total imports fell -1.8% MoM but were up 1.3% YoY, slowing from 4.1% YoY in July and below expectations of a 3.0% YoY increase.
- So far through August of this year, exports are up 5.9% and imports are down -2.2% over the same period last year.
- Total trade between the US and China fell -10.5% MoM and -29.3% YoY in August with exports down -11.8% MoM and -33.1% YoY and imports down -6.7% MoM and -16.0% YoY.
Source
China’s trade surplus fell to $98.24 billion in July, down from $114.8 billion in June and below expectations of a drop to $105.0 billion.
- Exports were down -1.0% MoM but up 7.2% YoY (vs 5.4% YoY expected), accelerating from growth of 5.8% YoY in June.
- Imports increased 6.2% MoM and 4.1% YoY (vs -1.0% YoY expected), causing the downside surprise in the trade balance.
- Chinese exports to the US fell -6.1% MoM in July, and so far this year, are down -12.6% YoY (down from -10.9% YoY in the June YTD period).
- Imports from the US increased 4.1% MoM in July, and so far this year, are down -10.3% YoY (down from -8.7% YoY in the June YTD period).
- Total trade between the US and China was down -3.7% MoM in July and -10.3% YoY in the first 7 months of the year.
- On a YTD basis, Chinese export growth has been strong to the EU (+6.6% YoY), especially Germany (+10.6% YoY), and ASEAN nations (+13.0% YoY), especially Vietnam (+19.6% YoY) and Thailand (+22.0% YoY).
Source
China’s trade balance improved again to $114.8 billion in June from $103.2 billion in May, beating expectations of a $109 billion trade surplus.
- Exports increased 2.9% MoM and 5.8% YoY, up from 4.8% YoY in May and above expectations of 5.0% YoY.
- Imports dropped -1.1% MoM but were up 1.1% YoY, bouncing back from being down -3.4% YoY last month but slightly below expectations of a 1.3% YoY increase.
- Chinese exports to the US surged 32.4% MoM as early trade deals encouraged trade to bounce back. Imports from the US were up 7.4% MoM.
- On a YTD basis, trade between the US and China is down -10.4% YoY with exports down -10.9% YoY and imports down -8.7% YoY.
- So far in 2025, exports to the EU (+6.6% YoY) and ASEAN nations (+13.0% YoY) have seen a significant increase as US-China trade relations deteriorated.
Source
The Chinese trade balance improved from $96.2 billion in April to $103.2 billion in May, topping expectations of a smaller increase to $101.3 billion
- Exports increased 0.2% MoM and were up 4.8% YoY, slowing from the 8.1% YoY increase in April and slightly below expectations of a 5.0% YoY gain.
- Imports eased -2.9% MoM and were down -3.4% YoY, below the -0.2% YoY decline in April and well below expectations of an -0.9% YoY decline.
- Chinese exports to the US fell -12.7% MoM and imports from the US fell -14.0% MoM.
- The total value of trade between the US and China (both imports and exports) collapsed -26.2% MoM in May and is down -9.1% YoY in the first five months of 2025.
- Trade with ASEAN nations in the YTD period is up 7.8% YoY including a 12.2% YoY increase in exports.
Source
The Chinese trade balance fell from $102.6 billion in March to $96.2 billion in April, above expectations of a $89 billion surplus.
- Exports were up 0.6% MoM and 8.1% YoY, slightly below the March 12.4% YoY surge and well above the forecasted 1.9% YoY increase.
- Imports increased 3.9% MoM and were basically unchanged at -0.2% YoY, better than the -5.9% YoY expected drop. So far this year, imports are down -5.2% compared to the same period in 2024.
- The total value of exports from China to the US dropped -17.6% MoM in April, from $40.1 billion to $33.0 billion as the new tariff rates were put in place.
- The total value of Chinese imports from the US did not drop but actually increased by 0.7% MoM to $12.6 billion.
- On a YTD basis, China-US trade is down -3.1% YoY with exports to the US down -2.5% YoY and imports from the US down -4.7% YoY
Source
The Chinese trade balance fell from $170.5 billion in February to $102.6 billion in March, above expectations of a $77 billion surplus.
- Exports jumped 46.0% MoM and were up 12.4% YoY (the highest since October 2024) as US companies rushed orders ahead of tariffs.
- Imports jumped 15.2% MoM but were down -4.3% YoY. In Q1 2025, imports have fallen -7.0% YoY.
- The total value of exports from China to the US surged 44.3% MoM in March, from $27.8 billion to $40.1 billion.
Source
China’s trade balance was $170.5 billion in the January-February holiday period, above expectations of a $142.4 billion surplus.
- Exports were up 2.3% YoY, below expectations of a 5% YoY increase.
- Imports crashed -8.4% YoY, well below expectations of a 1% YoY increase.
- Imports from the following countries/regions dropped the most: EU (-5.6% YoY), Australia (-27.7% YoY), Brazil (-32.9% YoY), and India (-28.7% YoY).
- Trade with the US increased 2.4% YoY with imports up 2.3% YoY and exports up 2.7% YoY.
Source
Both Chinese imports and exports came in higher than expected in December, and the trade balance saw an increase to $104.84 billion vs a smaller rise to $99.80 billion.
- Export growth was 7.6% MoM and 10.7% YoY (vs 7.3% YoY expected). Exports to the US surged 15.6% YoY as Chinese firms looked to increase exports ahead of Trump tariffs.
- Imports also saw better than expected performance, rising 7.5% YoY and 1% YoY instead of the 1.5% YoY decline that was expected. Generally, this is a good sign for demand.
Source