China’s trade surplus, the amount by which exports exceeded imports, passed $1 trillion in the first 10 months of 2026 for a second year in a row, as strong exports helped by demand for technology goods outpaced imports and raised trading partners’ concerns about imbalanced trade.
Customs data released Tuesday put the January-to-October surplus at about $1.04 trillion. That figure was already close to the record $1.2 trillion recorded for all of 2025. October exports rose 35.2% from a year earlier to $412.3 billion.
October imports climbed 41.6% to $307.1 billion. Because imports grew faster, October’s surplus narrowed to about $105.3 billion from $133.5 billion in September. Reports said overseas demand for AI-related hardware and other high-tech goods was an important source of support for exports.
Exports also included goods such as semiconductors and vehicles. The export boom is helping China’s economy. Weak household spending at home remains a concern.
Meanwhile, trading partners have called on Beijing to rely more on demand within China. They have also voiced concern that growing exports of Chinese goods could put pressure on their own industries. Two months of data remain, and China is on course to challenge last year’s annual surplus record.