China’s goods trade surplus reached $1.04 trillion in the first ten months of 2026, even as the monthly surplus narrowed in October. Chinese customs data showed that imports grew faster than exports compared with October last year.
Imports outpace export growth
October exports climbed 35.2% from a year earlier to $412.3 billion, while imports rose 41.6% to $307.1 billion. The difference between those figures put the October surplus at about $105.3 billion, down from $133.5 billion in September, The Associated Press reported.
China’s government statistics release reported six consecutive months of double-digit growth in both exports and imports through October. Trade with the United States expanded 6.3% in the first ten months, according to that release.
The monthly and year-to-date figures measure different things. October’s narrower gap reflects a month in which purchases from abroad picked up sharply. The $1.04 trillion figure reflects the accumulated difference between exports and imports since January.