China’s goods trade surplus tops $1 trillion in the first ten months
Imports grew faster than exports in yuan terms, while October’s surplus was smaller than September’s.
China recorded a goods trade surplus of about $1.04 trillion from January to October 2026, according to customs data reported by Reuters. The surplus passed $1 trillion earlier than it did in 2025. The figure covers goods and does not include trade in services.
Yuan-denominated figures released on 10 November put total imports and exports at 44.81 trillion yuan, up 20% year on year. Exports rose 17.6% to 25.99 trillion yuan and imports rose 23.6% to 18.82 trillion yuan.
In October, measured in US dollars, exports rose 35.2% from a year earlier and imports rose 41.6%. The monthly surplus narrowed to $105.3 billion from $133.5 billion in September. The monthly and year-to-date figures measure different things: the monthly gap narrowed even as the running total topped $1 trillion.
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