China’s exports surged 36.3% in September, lifting the monthly trade surplus to $133.53 billion and putting another annual record within reach as trade partners pressed Beijing to rebalance commerce.
Customs data released October 14 showed exports accelerated from 25% growth in August, beating economists’ 25.5% forecast and marking the fastest pace since February. Imports also rose faster than expected, climbing 31% year over year, while the September surplus widened from $119.09 billion in August. For January through September, China’s surplus reached $938.11 billion, nearing the record $1.189 trillion set for all of 2025.
Strong overseas demand for semiconductors, other technology goods and cars helped drive the export gains, with demand linked to AI infrastructure supporting shipments of tech products. The scale of the surplus could deepen trade friction: China recorded large surpluses with both the United States and the European Union, where officials have called for more balanced trade and recently agreed on limits for Chinese hybrid-car exports. The export strength is supporting growth as domestic consumption and investment remain subdued, but it also leaves China exposed to shifts in global demand and trade policy.
Chinese customs officials cited external uncertainties, including geopolitical conflicts, while analysts expect trade to remain buoyant through year-end.