Beijing (AFP) – China announced on Tuesday that it had passed the $1,000 billion mark in trade surplus since the start of the year in October, with a jump in exports to the EU and the United States.

Published on: 10/11/2026 - 06:54

Over the first ten months of the year, the Chinese trade surplus with the EU increased by 28.6% to 310.67 billion dollars, or more than a billion per day, despite the efforts of the Twenty-Seven to try to counter this trend.

Foreign trade continues to establish itself as a driver of the Chinese economy, particularly thanks to the explosion in demand for products linked to artificial intelligence and in the field of electric cars.

The $1 trillion trade surplus mark was only reached in November last year, which ended with a record $1.2 trillion.

For the month of October alone, Chinese exports increased by 35.2% year-on-year to $412.3 billion.

Imports also rose sharply, by 41.6% over one year to $307.1 billion, but without preventing the deficit from widening.

Among exports, 54.58 billion went to the European Union in October, up 24.4%, for a Chinese monthly surplus of 33.4 billion.

The EU regularly points to an “unsustainable” trade deficit with Beijing and accuses China of resorting to unfair practices. The two parties nevertheless reached an agreement last month on automobiles, a key sector in Europe, aimed at limiting exports of Chinese hybrid vehicles.

Xi-Trump meeting

Chinese exports to the United States also jumped in October, by 32.9% to 46.4 billion, despite the context of the tariff war launched by American President Donald Trump.

He is due to meet his Chinese counterpart Xi Jinping on the sidelines of the Apec (Asia-Pacific Economic Cooperation) summit which will be held on November 18 and 19 in Shenzhen, in southern China. A tripartite meeting with Russian leader Vladimir Putin is also planned.

These spectacular results of Chinese foreign trade contrast with the persistent sluggishness of the domestic market.

“Exporters have been the key driver of the Chinese economy this year,” confirms Zhiwei Zhang, president and chief economist of Pinpoint Asset Management, in a note.

"I expect them to continue to perform well until further notice," he added, saying he did not think China's "macro-level policy will change significantly for the rest of the year."

The Asian giant is still struggling to regain its internal dynamism before the Covid pandemic. It is subject to deflationary pressures, weak household spending, production surpluses and a severe housing crisis.

A situation that weighs on the country's performance: despite its record exports, Beijing is targeting growth of between 4.5 and 5% for 2026, its lowest official objective in decades.

In the third quarter, Chinese growth year-on-year stood at 4.5%, accelerating slightly compared to the second (4.3%).

© 2026 AFP

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