China has reported the largest trade surplus in global history, underscoring the resilience of its export machine despite a year of disruption caused by Donald Trump's tariffs and trade failure.
Official data released in Beijing shows China is set to record a full-year trade surplus of $1.19 trillion (£890bn) in 2025, the first time the country's surplus has crossed the $1tn mark. This figure easily surpasses the previous record of $993bn set in 2024.
The monthly data highlights the scale of China's export dominance. Export surpluses exceeded $100 billion in seven separate months last year, suggesting that despite weakening trade with the United States, Chinese exporters were able to redirect goods to other markets with remarkable speed.
Trade flows to Southeast Asia, Africa and Latin America increased rapidly, reducing the impact of tariffs imposed by Washington. Exports to Europe also were better than many analysts expected, bolstering Beijing's long-standing argument that the US is now just one of many destinations for Chinese goods.
Wang Jun, deputy director of China's customs authority, described the figures as “extraordinary and hard-earned”, marking what he called a “profound change” in the global trade environment. He pointed to strong growth in exports of green technology, artificial intelligence-related products and robotics as key drivers.
The increasing surplus also reflects weakness in the household. China's domestic economy remains weighed down by a prolonged property slump and rising debt levels, making businesses cautious about investing and households reluctant to spend. Imports increased by only 0.5% during the year, limiting demand for foreign goods and further increasing the surplus.
The weaker yuan combined with stronger manufacturing capacity and higher inflation in Western economies has also made Chinese exports more competitive on price, especially in emerging markets.
For policymakers in Beijing, the data is reassuring that China's export sector remains on the global stage, even as relations with Washington remain strained. However, officials were cautious in taking precautions. Wang warned that the external environment remains uncertain, with growing resistance from trading partners worried about an influx of low-priced Chinese goods.
Those concerns are already turning into political pressure. Many countries have raised concerns over domestic industries struggling to compete with Chinese imports, and further trade rescue could occur.
These figures come after a turbulent year for global trade. In April last year, Trump announced sweeping tariffs on goods from more than 90 countries, with China facing some of the harshest measures. A brief escalation saw threats of triple-digit tariffs before tensions eased following a meeting between Trump and Xi Jinping in South Korea in October.
While the most extreme measures were stopped, a series of tariffs continued to suppress Chinese exports to the US. Businesses on both sides are now bracing for more volatility as trade policy once again becomes a central tool of geopolitical strategy.
jamie young
Jamie is a senior reporter at Business Matters, with over a decade of experience in UK SME business reporting. Jamie has a degree in Business Administration and regularly attends industry conferences and workshops. When Jamie is not reporting on the latest business developments, he is passionate about mentoring budding journalists and entrepreneurs to inspire the next generation of business leaders.