Chine Balance Commerciale

China's trade surplus came in at USD 90.45 billion in September, below expectations of USD 98.96 billion but above the USD 81.69 billion recorded in the same month last year, as exports continued to outpace imports. Exports rose 8.3% yoy, beating forecasts for a 6% gain and accelerating from a 4.4% growth in August. This marked the fastest pace of export growth since March, as Chinese producers continued to diversify into new markets beyond the US. Imports grew by 7.4%, above expectations for a 1.5% rise and well above the 1.3% gain in August—marking the fastest import growth since April 2024, supported by stronger domestic demand ahead of the Golden Week holidays. China’s trade surplus with the US rose to USD 22.82 billion in September, up from USD 20.32 billion in August, even as both exports to and imports from the US fell by 27.0% and 16.1%, respectively. Year-to-date, China posted a total trade surplus of USD 875.1 billion, with exports rising 6.1% yoy, while imports fell by 1.1%.