China Surpasses $1 Trillion Trade Surplus Amid Decline in U.S. Exports

In November 2025, China's trade surplus reached a historic $1.08 trillion over the first 11 months of the year, marking the first time the nation has surpassed the $1 trillion threshold. This milestone was achieved despite a significant 29% year-on-year decline in exports to the United States during the same month. Overall, China's exports grew by 5.9% in November compared to the previous year, indicating a robust performance in other markets.

China's trade dynamics have been significantly influenced by ongoing trade tensions with the United States. The imposition of tariffs by the U.S. has led to a substantial decrease in Chinese exports to the American market. In response, China has strategically diversified its export destinations, increasing shipments to regions such as Europe, Australia, Southeast Asia, Latin America, and Africa. This strategic pivot has been instrumental in offsetting the decline in U.S. trade and achieving the record surplus.

Chinese Premier Li Qiang addressed the impact of rising global tariffs on the world economy, emphasizing the need for free trade and international cooperation. He stated that protectionist measures have significantly harmed global economic growth and called for collaborative efforts to promote open markets.

China's ability to achieve a record trade surplus despite reduced exports to the U.S. underscores its resilience and adaptability in the face of trade restrictions. The shift in China's export strategy may influence global trade alliances and economic policies, potentially leading to realignments in international trade partnerships. The trade surplus contributes positively to China's GDP, providing a buffer against domestic economic challenges such as the property sector downturn and sluggish consumer spending.

This is the first time China has surpassed a $1 trillion trade surplus, exceeding the previous full-year record of $992 billion set in 2024. The current surplus reflects China's successful efforts to diversify its export markets and maintain economic growth amid external pressures.

China's surpassing of the $1 trillion trade surplus mark reflects its strategic adaptability in a shifting global trade environment. By diversifying its export markets and advocating for free trade, China continues to assert its position as a dominant player in the global economy.