China’s Trade Surplus Exceeds $1 Trillion Early

China’s trade surplus surpassed $1 trillion in October, according to official data released on November 10, 2026. This milestone was reached earlier than last year’s record-breaking figure. The surge in exports has been driven by strong global demand for AI-related products, including computer chips and servers.

The growth in trade has provided a crucial economic boost for China, which has been struggling with challenges in its property sector. Exports rose sharply last month, reaching $412.3 billion, up 35.2% year-over-year, while imports grew to $307.1 billion, an increase of 41.6%. This brought the total trade surplus for the first 10 months of the year to a record $1.04 trillion.

China is on track to exceed last year’s $1.2 trillion surplus. However, the export boom has caused tensions with key trading partners like the United States and the European Union, who worry about low-cost Chinese goods competing against their own industries.

President Xi Jinping and U.S. President Donald Trump are set to meet at the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen next week. Their discussions will likely focus on trade issues, as both leaders have been working to maintain a fragile truce since last year’s meeting. Meanwhile, China’s trade surplus with the EU has grown to $310.7 billion this year, putting pressure on Brussels to protect local industries.

Domestically, China is relying heavily on exports to meet its growth target of 4.5-5%, its lowest goal in decades. However, domestic consumption remains weak, and inflation is far below the official target of around two percent.