Summary
China's trade surplus reached $1 trillion for the first time. This happened as China increased exports and slightly reduced imports despite ongoing global trade tensions. Key export growth was seen in high-tech goods and electric vehicles.
Key Facts
- China’s trade surplus is $1 trillion, the largest it has ever been.
- In the first 11 months of this year, China’s exports reached $3.4 trillion.
- Imports during the same period slightly decreased to $2.3 trillion.
- China increased its trade with markets outside the US, focusing on Southeast Asia and the European Union.
- High-tech goods and electric vehicles were significant contributors to export growth.
- Semiconductor exports rose by 24.7% over the year.
- China’s shipbuilding exports increased by 26.8%.
- Chinese exports to the US have decreased by 29% due to tariffs, but some goods are being rerouted through countries like Indonesia and Vietnam.
