Chine Balance Commerciale

China's trade surplus widened sharply to USD 103.22 billion in May 2025, up from USD 81.74 billion in the same period a year earlier and exceeding market expectations of USD 101.3 billion, as exports rose while imports dropped more than anticipated. Exports grew by 4.8% yoy, slightly below estimates of 5.0%, and down sharply from the 8.1% growth recorded in April. The slowdown was largely due to weakened shipments to the US, impacted by Trump-era tariffs and ongoing uncertainty surrounding trade negotiations between Washington and Beijing. Meanwhile, imports fell by 3.4%—more than the expected 0.9% decline—following a 0.2% fall in April. China’s trade surplus with the US narrowed to USD 18 billion in May, down from USD 20.46 billion in April, as exports and imports plunged by 34.5% and 18.1%, respectively. For the first five months of 2025, China recorded a total trade surplus of USD 471.9 billion, with exports rising 6.0% and imports falling 4.9% compared to the same period in 2024.