Strong semiconductor, electronics and vehicle exports have put China on course to challenge last year’s record surplus despite faster import growth in October
THUNDER BAY ON – International News Service — China’s merchandise trade surplus surpassed $1 trillion during the first 10 months of 2026, official figures showed Tuesday, reaching that level for a second consecutive year as exports continued to surge.
Exports measured in U.S. dollars rose 35.2 per cent in October from a year earlier. Imports increased even faster, climbing 41.6 per cent and narrowing the monthly surplus to $105.3 billion from $133.5 billion in September.
The January-to-October surplus reached approximately $1.04 trillion. China passed the trillion-dollar mark one month earlier than it did last year, putting it on course to approach or exceed its record 2025 surplus of about $1.2 trillion.
High-technology products, including semiconductors, electronics and vehicles, have helped drive export growth. Artificial-intelligence investment has also supported demand for Chinese technology products while increasing the country’s own imports of advanced components.
Exports to the United States rose 32.9 per cent in October from the depressed level recorded a year earlier, when elevated tariffs sharply affected bilateral commerce. Shipments to the European Union increased 24.3 per cent for the month and 17.2 per cent over the first 10 months of the year.
The scale of the surplus is likely to intensify pressure from governments concerned about Chinese manufacturing capacity and low-priced imports. The European Union has introduced trade restrictions in selected industries, while the United States maintains heightened tariffs and other barriers.
Beijing says it does not deliberately seek a large surplus and argues that restrictions on Chinese technology exports make balanced trade more difficult. Chinese officials have also emphasized the recent strength of imports.
Strong foreign demand has helped offset slower domestic consumption and intense price competition among Chinese manufacturers. Beijing expects economic growth of between 4.5 and five per cent this year, compared with five per cent in 2025.
Sources: General Administration of Customs of China |
