Chinas Trade Surplus Hits Record $1 Trillion Amidst Global Export Surge

China has reached a significant economic milestone, recording an annual trade surplus exceeding $1 trillion for the first time. This achievement, observed in November, comes despite a notable 29% year-on-year decline in exports to the United States.

The deficit with the US was offset by a strong 5.9% surge in overall exports to other major global markets, with imports rising by 1.9%.

This diversification strategy has been pursued by Beijing since the imposition of high tariffs by Donald Trump. Chinese manufacturers have deepened trade ties globally, particularly with Southeast Asia and the European Union, where exports grew by 14.8%.

Shipments to Australia also increased significantly. With a weak domestic property sector and slowing spending, these global exports are crucial for Chinas economy, helping it manage US-China trade tensions and support its 5% annual growth target.