China's trade surplus exceeds $1 trillion in first ten months of 2026

China's trade surplus surpassed the $1 trillion milestone by the end of October 2026, reaching a total of $1.04 trillion for the first ten months of the year. Data released by the General Administration of Customs shows that total exports in October surged by 35.2% to $412.3 billion, while imports increased by 41.6% to $307.1 billion. This growth trajectory, driven largely by international demand for artificial intelligence equipment, occurred one month earlier than in 2025, when the same threshold was reached in November.

Despite ongoing trade tensions and tariffs imposed by U.S. President Donald Trump, exports to the United States rose by 32.9% to $46.4 billion compared to $34.9 billion in October 2025. Exports to the European Union also saw a significant increase of 24.4%, reaching $54.5 billion (€48.6 billion). The data highlights a sharp contrast between the country's robust export sector and stagnant domestic consumption.

The figures provide an economic buffer for Beijing amid a domestic real estate crisis, though they are expected to exacerbate trade frictions ahead of an upcoming meeting between President Xi Jinping and Donald Trump. Analysts note that China remains on track to surpass its previous annual record of $1.2 trillion in total trade surplus.