China's merchandise trade totaled $648.13 billion in May 2026, with exports of $376.78 billion and a trade surplus of $105.43 billion, according to customs data.
The high water mark
Cumulative trade for the 12 months ending December 2025 climbed to $6.35 trillion, the highest year-to-date total in the series. The December figure alone reached $600.65 billion, capping a year of strong external demand and robust import levels.
The narrowest surplus
Monthly surplus bottomed out at just $12.02 billion in February 2023, a seasonal low shaped by the Lunar New Year shutdown. Factory closures and pre-holiday import surges often compress the trade balance in that period, but the 2023 reading was markedly thin compared with later months.
- Largest monthly total: Dec 2025 — $600.65 billion.
- Smallest balance: Feb 2023 — $12.02 billion.
- Export growth: May 2026 exports up 19% from a year earlier.
Export momentum in mid-2026 points to persistent global demand, while a steep parallel rise in imports suggests domestic consumption remains firm.
Source: General Administration of Customs, P.R. China · 2026-06-28T09:05:21.500Z
