Overview
- Exports rose 5.9% year over year in November to $330.3 billion, while imports increased 1.9% to $218.6 billion, producing a $111.7 billion monthly surplus that ranked as the third largest on record.
- Through the first 11 months of 2025, the cumulative trade surplus reached about $1.08 trillion, already surpassing the $992 billion total for all of 2024.
- Shipments to the United States fell about 29% from a year earlier in November, the eighth consecutive month of double‑digit declines, underscoring that U.S.-bound flows have not yet recovered.
- Sales to other regions strengthened, with exports to the European Union up 15% and gains to Southeast Asia (+8.4%), Africa (+28%), Australia (+36%) and Latin America, supported by electronics, vehicles and other advanced manufacturing.
- An official survey showed manufacturing contracted for the eighth straight month in November, and economists say any uplift from lower U.S. tariffs should become clearer in the coming months.