China’s Trade Surplus H1 2026

China’s trade surplus widened sharply in June 2026, reaching USD 125.62 billion and setting a new record for the month. The increase reflected a strong rise in both exports and imports, with trade flows boosted by surging demand for AI-related hardware, higher chip prices, and resilient external demand.

Exports climbed 27% year on year to a record USD 412.39 billion, while imports jumped 36% to an all-time high of USD 286.76 billion. The import figure was the fastest growth in five years, and the export result marked one of the strongest monthly performances in recent years.

The trade balance also widened in China’s favor with several major partners. The surplus with the United States rose to USD 28.9 billion in June, while the surplus with the European Union increased 27% year on year to a record USD 32.9 billion. China’s surplus with Germany more than doubled from a year earlier, highlighting the scale of its export strength in advanced markets.

For the first half of 2026, China’s trade surplus totaled USD 575.98 billion, slightly below the level recorded a year earlier. That decline was not driven by weaker trade overall, but by the fact that imports grew faster than exports over the period, with exports up 17.6% and imports up 26.6%.

Overall, the June data point to a trade sector that remains highly dynamic, supported by technology demand and strong manufacturing exports, but also shaped by a faster rise in imports and continuing tensions with major trading partners.