China's Trade Surplus Exceeds $1 Trillion in First 10 Months as AI Chip Exports Surge
China recorded a $1.04 trillion goods trade surplus through October 2026, surpassing the $1 trillion mark for the second consecutive year.
CHINA,ECONOMY
Global N Press
11/10/20261 min read
China’s goods trade surplus reached $1.04 trillion in the first 10 months of 2026, exceeding $1 trillion for a second consecutive year, customs data released on November 10 showed. Exports rose 35.2% year on year in October to $412.3 billion, supported by demand for semiconductors, electronics and vehicles, while imports climbed 41.6% to $307.1 billion, partly reflecting higher purchases of crude oil and technology inputs. The monthly surplus narrowed to $105.3 billion from $133.5 billion in September as imports accelerated. The year-to-date figure puts China on course to surpass the 2025 record of $1.2 trillion.
The data highlight the importance of external demand to China’s economy as domestic consumption remains uneven and manufacturers face intense price competition. Semiconductor exports rose 137.1% in value in October, while auto exports increased 37.6%. Shipments to the United States grew 32.9% year on year and those to the European Union rose 24.3%, adding to trade imbalances that have drawn scrutiny from major trading partners. Economists have warned that tariffs, trade restrictions or a slowdown in global artificial-intelligence investment could weigh on exports.
