A Look at China's Trade China Posts Another Huge Trade Surplus

For the second year in a row, China's trade surplus has reached about one trillion dollars (just under one thousand billion euros). Beijing is thus on track to surpass last year's figure ...

According to the Chinese customs authority, the surplus, calculated in dollars (as of October), amounted to approximately 1.04 trillion (about 927 billion euros). Experts say that Germany’s trade deficit with China is also likely to continue rising as a result. Exports and imports (calculated by value) once again exceeded analysts’ expectations. According to customs data, exports in October rose by 35.2 percent compared to the previous year. Imports rose by 41.6 percent over the same period. Despite the highest import growth since 2021, the trade surplus in October thus stood at around 105 billion dollars (nearly 94 billion euros). The boom in artificial intelligence is identified as the driver behind the consistently high exports, as it is creating steady demand abroad for technology and electronic products from China to support AI expansion. The strong growth in imports was due to higher prices for raw material imports (such as oil). However, high-tech products are also expected to fuel growth. All of this suggests that China continues to spend heavily in the ongoing tech race.

China Could Significantly Dampen Europe's Sentiment

Last year, China already set a record for its trade surplus ($1.2 trillion). This year’s trend is likely to continue to cause unease among its trading partners. In October, China’s exports to Germany and Europe were up 33.5 percent and 24.4 percent, respectively, compared with the same month last year. By contrast, Chinese imports fell by 2.6 percent and 4.2 percent, respectively. For German companies operating in China and serving third-party markets from there, Beijing’s stronger export orientation means greater competitive pressure in foreign markets, according to the German Chamber of Commerce Abroad (AHK). At the same time, however, this development opens up opportunities for them—for example, by partnering with Chinese companies as technology, product, or service providers to support their international expansion.

Trade with the U.S., on the Other Hand, is Quite Different

According to the analyses, the People’s Republic exported 32.9 percent more to the United States and imported 35 percent more than it did a year ago. The world’s two largest economies are currently taking a break from their trade dispute. Next week, U.S. President Donald Trump and Chinese President Xi Jinping could meet in Shenzhen, in southern China, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. And late last week, U.S. Treasury Secretary Scott Bessent urged China’s Vice Premier He Lifeng, who is responsible for trade policy, in a phone call to honor certain commitments. A little over a year ago, Trump and Xi had already put their tariff dispute on hold and made commitments regarding bilateral trade. However, according to reports, China is not supplying the U.S. with the full promised quantity of certain goods—such as rare earth elements.