Overview
- Official customs data show a $1.189 trillion full‑year surplus for 2025, with exports up 5.5% to $3.77 trillion and imports roughly flat at $2.58 trillion.
- December trade surprised to the upside as exports rose 6.6% year on year and imports increased 5.7%, extending momentum from November.
- U.S.-bound shipments fell about 20% for the year, offset by gains to Africa (+26%), Southeast Asia (+13%), the European Union (+8%) and Latin America (+7%).
- Chinese firms broadened supply chains and established overseas production hubs to preserve access to key markets, while a weaker yuan helped lift monthly surpluses above $100 billion seven times.
- High‑value goods such as electronics and autos powered sales, with pure EV exports jumping 48.8%, as officials warned the 2026 trade backdrop is “severe and complex” and the IMF urged China to reduce export reliance.