China trade surplus tops record $1 trillion

Monday, December 08, 2025 at 11:47 UTC+01:00 (+0100), China, Beijing

News category : Macroeconomic Events

On December 8, 2025, official Chinese customs data revealed that China’s cumulative trade surplus for the first 11 months of the year surpassed US$1 trillion, marking the highest level on record. Exports grew 5.9% year-on-year in November, rebounding from earlier declines and significantly outpacing the modest 1.9% rise in imports. This strong export performance was supported by broad global demand outside the United States, particularly to the EU and Southeast Asia, which helped offset a steep drop in shipments to the U.S. despite ongoing tariff pressures. The milestone reflects China’s dominant position in global goods trade and highlights persistent structural imbalances in global demand that may influence international negotiations, currency valuations, and investment flows. Markets interpreted these figures as a signal of resilience in China’s external sector, potentially supporting the yuan and export-oriented equity sectors while raising questions about domestic consumption strength. The surplus milestone is likely to shape policy discussions both within China and among its major trading partners as global macro risks evolve.

Overall market impact

Strong bullish market impact - strength score : 90/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

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Impacted instruments :

Chinese equities

Asian equities

CNY FX

Commodities

Global trade-linked currencies

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