China has recorded the largest trade surplus in its history, reporting a US$1.19 trillion surplus in 2025 despite continued tariffs and trade pressure from the United States under President Donald Trump.
Official figures released by Beijing on Wednesday show that the value of China’s exports far exceeded its imports last year, marking the first time the country’s full-year trade surplus has crossed the US$1 trillion mark. The figure surpasses the previous record of US$993 billion set in 2024 and underlines China’s resilience amid persistent global trade tensions.
China’s monthly export surplus exceeded US$100 billion on seven occasions in 2025, an indication that US tariffs had limited impact on its overall trade performance. While trade with the United States weakened, losses were largely offset by stronger exports to Southeast Asia, Africa, Latin America and parts of Europe.
Wang Jun, deputy director of China’s customs authority, described the figures as “extraordinary and hard-won” during a press briefing, citing profound shifts and ongoing challenges in the global trading system. He highlighted notable growth in exports linked to green technology, artificial intelligence-related products and robotics.
Analysts say the record surplus reflects robust external demand for Chinese goods, coupled with subdued domestic consumption. China’s economy has continued to face pressure from a prolonged property sector crisis and rising debt levels, factors that have made businesses more cautious about investment and consumers more restrained in spending. As a result, imports rose by just 0.5% in 2025, reinforcing the surplus.
Other factors supporting export growth included a weaker yuan, strong industrial output and persistent inflation in Western economies, which made Chinese goods more price-competitive globally.
Deborah Elms, a trade policy analyst at the Hinrich Foundation, described the outcome as a “mixed blessing” for Beijing. While strong exports have supported employment and industrial activity, she warned that China’s growing trade dominance could attract greater scrutiny from foreign governments under pressure to protect local industries.
She added that China’s trade momentum is likely to continue into 2026 as its goods and services become more embedded in global supply chains. However, Chinese officials have cautioned that external risks remain high, particularly as concerns grow in several countries about an influx of low-priced Chinese products.
The figures come against the backdrop of renewed uncertainty over US trade policy. In April last year, President Trump announced sweeping tariffs on goods from more than 90 countries, with China facing some of the harshest measures. Although tensions eased following talks between Trump and Chinese President Xi Jinping in South Korea in October, several tariffs remain in force, continuing to weigh on Chinese exports to the US.
Despite these challenges, the latest data reinforces Beijing’s long-held position that China is no longer dependent on the US market alone, even as businesses brace for another year of potential trade volatility.
