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China’s December Trade Surge Pushes Annual Surplus to Record High

China’s export growth in December significantly exceeded expectations, helping drive the country’s annual trade surplus to a historic peak while imports also rebounded strongly. Exports rose 6.6% year-on-year, far above forecasts, while imports climbed 5.7%, marking the fastest pace of growth in three months. For the full year, exports expanded 5.5% and imports remained flat, lifting China’s total trade surplus to $1.19 trillion, about 20% higher than the previous year.

Despite the strong overall performance, trade with the United States weakened sharply. Shipments to the U.S. fell 30% in December, extending a long streak of declines, while imports from the U.S. dropped 29%. This trend reflects ongoing tariff tensions and signals a broader slowdown in bilateral trade. Chinese officials have emphasized that economic ties with the U.S. should be mutually beneficial and have called for dialogue and negotiation to resolve disputes.

As exporters redirect goods to other markets, China’s growing trade imbalance has raised concerns among major partners such as the European Union. International institutions have urged Beijing to reduce reliance on exports and place greater focus on boosting domestic consumption. Critics warn that an expanding surplus could encourage other nations to adopt more protectionist policies, increasing the risk of trade friction worldwide.

China’s economy continues to face internal challenges, including weak consumer demand, a struggling property sector, and subdued confidence in the job market. Consumer prices remained flat over the past year, highlighting deflationary pressures. While strong exports are helping to offset some domestic weakness, economists expect policymakers to maintain their current economic stance in the near term, especially as external trade pressures have temporarily eased.