China has reported the largest trade surplus in world history, underscoring the resilience of its export machinery despite a year of disruption caused by Donald Trump’s tariffs and trade risks.
Official figures released in Beijing show China posted a full-year trade surplus of $1.19 trillion (£890 billion) in 2025, the first time the country’s surplus has topped $1 trillion. The figure significantly exceeded the previous record of $993 billion from 2024.
Monthly data highlights the extent of China’s export dominance. Export surpluses exceeded $100 billion in seven months last year, suggesting that while trade with the United States weakened, Chinese exporters were able to redirect their goods to other markets with remarkable speed.
Trade flows to Southeast Asia, Africa and Latin America rose sharply, offsetting the impact of tariffs imposed by Washington. Exports to Europe also held up better than many analysts expected, reinforcing Beijing’s longstanding argument that the United States is now just one of many destinations for Chinese goods.
Wang Jun, deputy director of China Customs, called the figures “extraordinary and hard-won” given what he called “profound changes” in the global trade environment. He pointed to strong growth in exports of green technology, artificial intelligence-related products and robotics as key drivers.
The rising surplus also reflects weakness at home. China’s domestic economy continues to be weighed down by a prolonged real estate downturn and rising debt, causing companies to be cautious about investing and households to be cautious about spending. Imports rose just 0.5% during the year, limiting demand for foreign goods and further widening the surplus.
A weaker yuan, combined with strong manufacturing capacity and higher inflation in Western economies, has also made Chinese exports more price competitive, particularly in emerging markets.
For policymakers in Beijing, the data is confirmation that China’s export sector remains globally anchored even as relations with Washington remain strained. However, officials were careful to exercise caution. Wang warned that the external environment remains uncertain and resistance is growing from trading partners who fear being flooded with cheap Chinese goods.
These concerns are already leading to political pressure. Several countries have sounded the alarm over domestic industries struggling to compete with Chinese imports, and more trade defense measures could follow.
The figures come after a turbulent year in global trade. In April last year, Trump announced sweeping tariffs on goods from more than 90 countries, with China facing some of the harshest measures. A brief escalation threatened triple-digit tariffs before tensions eased following a meeting between Trump and Xi Jinping in South Korea in October.
While the most extreme measures have been suspended, a number of tariffs remain in effect, continuing to suppress Chinese exports to the US. Businesses on both sides are now bracing for further volatility as trade policy once again becomes a key tool of geopolitical strategy.
