China reported the largest trade surplus in global history for 2025, highlighting the resilience of its export sector despite a year of disruption caused by US tariffs and trade tensions. Official figures show the country’s full-year surplus reached $1.19 trillion (£890 billion), surpassing the previous record of $993 billion set in 2024.
Monthly data shows export surpluses exceeded $100 billion in seven months last year, reflecting China’s ability to redirect goods to markets outside the United States. While trade with Washington weakened under tariffs imposed by President Donald Trump, exports to South East Asia, Africa, and Latin America rose sharply. Trade with Europe also exceeded expectations, supporting Beijing’s argument that the US is no longer China’s primary market.
Wang Jun, deputy director of China’s customs authority, described the figures as “extraordinary and hard-won” amid what he called “profound changes” in the global trade environment. He pointed to growth in exports of green technology, artificial intelligence-related products, and robotics as key contributors to the surplus.
The record surplus also reflects ongoing weakness in China’s domestic economy. A prolonged property downturn and rising corporate debt have made businesses cautious about investment and households reluctant to spend. Imports rose by only 0.5% last year, contributing to the widening gap between exports and imports.
A weaker yuan, abundant manufacturing capacity, and high inflation in Western economies have also strengthened the price competitiveness of Chinese goods, particularly in emerging markets. Analysts say these factors helped Chinese exporters maintain strong global sales despite the disruption in trade with the United States.
While the figures signal strength, Beijing has warned that the external environment remains uncertain. Wang noted that trading partners are increasingly concerned about competition from low-priced Chinese products. Some countries have raised alarms about domestic industries struggling to compete, and further trade protections may follow.
The surge comes after a turbulent year in global trade. In April 2025, President Trump imposed broad tariffs on goods from more than 90 countries, with some of the strictest measures targeting China. The situation briefly escalated with threats of triple-digit tariffs before tensions eased after a meeting between Trump and Chinese President Xi Jinping in South Korea in October.
Although the most severe measures were paused, existing tariffs continue to limit exports to the US. Businesses on both sides remain cautious, anticipating further volatility as trade policy becomes an increasingly prominent tool in geopolitical strategy.
For Beijing, the record surplus provides reassurance that Chinese exports remain deeply embedded in global markets, even as diplomatic and trade relations with the United States face ongoing strain.
