China recorded a trade surplus of 104.84 USD Billion in December of 2024. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

Key information about China's Trade Balance

• China's Trade Balance recorded a surplus of 104.8 USD bn in Dec 2024, compared with a surplus of 97.3 USD bn in the previous month
• China's Trade Balance data is updated monthly, available from Jan 1992 to Dec 2024, with an averaged value of 12.8 USD bn
• The data reached an all-time high of 104.8 USD bn in Dec 2024 and a record low of -62.0 USD bn in Feb 2020

• In the latest reports, China's Total Exports reached 335.6 USD bn in Dec 2024, an increase of 20.8% YoY (year-on-year)
• Total Imports recorded 230.8 USD bn in Dec 2024, an increase of 20.8% YoY (year-on-year)

In December 2024, the trade surplus in China amounted to approximately 104.84 billion U.S. dollars. A positive value implies a trade surplus, a negative trade balance implies a trade deficit. International trade in China China surpassed the United States as the worlds’ largest goods trading economy in 2013. Despite the impacts of the global coronavirus pandemic, the total value of China’s imports and exports amounted to more than 6.1 trillion U.S. dollars in 2024.China has become a vital trade partner for many economies. In 2023, over 427 billion U.S. dollars worth of the United States’ imports originated in China, making China its second-largest import partner. A trade surplus occurs when exports of a country exceed its imports. It leads to a net inflow of domestic currency from foreign countries. The trade balance is a major growth factor for an economy. Because of running a large trade surplus, China holds a vast amount of foreign exchange reserves. Foreign exchange reserves may be viewed as a sign of national strength, but also represent a form of forced savings on the people. China was the country with the highest trade surplus of approximately 823.22 billion U.S. dollars as of 2023.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for China (XTNTVA01CNM667S) from Jan 1992 to Dec 2024 about China, trade, Net, and goods.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around 295.4 billion U.S. dollars.

China Trade Balance: Year to Date data was reported at 170.515 USD bn in Feb 2025. This records an increase from the previous number of 138.796 USD bn for Jan 2025. China Trade Balance: Year to Date data is updated monthly, averaging 96.686 USD bn from Jan 2000 (Median) to Feb 2025, with 302 observations. The data reached an all-time high of 991.813 USD bn in Dec 2024 and a record low of -11.030 USD bn in Apr 2004. China Trade Balance: Year to Date data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under Global Database’s China – Table CN.JA: USD: Trade: Value.

China Trade Balance: RMB: Year to Date data was reported at 1,226,063.794 RMB mn in Feb 2025. This records an increase from the previous number of 997,868.953 RMB mn for Jan 2025. China Trade Balance: RMB: Year to Date data is updated monthly, averaging 1,259,903.853 RMB mn from Jan 2012 (Median) to Feb 2025, with 158 observations. The data reached an all-time high of 7,059,841.204 RMB mn in Dec 2024 and a record low of -44,085.666 RMB mn in Feb 2020. China Trade Balance: RMB: Year to Date data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: RMB: Trade: Value.

In 2023, Japan recorded a deficit in goods and services trade with China valued at almost six trillion Japanese yen. Even though the trade deficit shrank in previous years, it exceeded five trillion yen again in 2022 as imports exceeded exports.

In 2024, China's service trade deficit (also called invisible trade deficit) reached around 164.7 billion U.S. dollars. The invisible trade balance includes sales and purchases of services such as transportation services, insurance services, consulting services, and tourism. A negative trade balance value indicates that imports exceeded exports that year.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for China (XTNTVA01CNQ664S) from Q1 1992 to Q4 2024 about China, trade, Net, and goods.

European Union Trade Balance: EU 27E: China: Total data was reported at -28.633 EUR bn in Nov 2024. This records an increase from the previous number of -32.984 EUR bn for Oct 2024. European Union Trade Balance: EU 27E: China: Total data is updated monthly, averaging -10.918 EUR bn from Jan 2002 (Median) to Nov 2024, with 275 observations. The data reached an all-time high of -2.454 EUR bn in Jun 2002 and a record low of -41.093 EUR bn in Sep 2022. European Union Trade Balance: EU 27E: China: Total data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.JA030: Eurostat: Trade Statistics: By SITC: European Union: China.

In 2024, South Korea's trade balance with China amounted to a deficit of about 6.87 billion U.S. dollars. The Free Trade Agreement between the two governments came into force in December 2015.

In 2024, the total value of the U.S. trade in goods with China amounted to around 583 billion U.S. dollars composed of a 143.55 billion U.S. dollars export value and a 438.95 billion U.S. dollars import value. This represented a negative trade balance of 295.4 billion U.S. dollars.

In 2024, the European Union exported goods worth approximately 213.3 billion euros to China, around 10 billion euros less than in the previous year. That year, the EU recorded a trade deficit of more than 304 billion euros with China.

China Trade Balance data was reported at 350.933 USD bn in 2018. This records a decrease from the previous number of 419.552 USD bn for 2017. China Trade Balance data is updated yearly, averaging 380.000 USD mn from Dec 1950 (Median) to 2018, with 69 observations. The data reached an all-time high of 593.904 USD bn in 2015 and a record low of -14.902 USD bn in 1985. China Trade Balance data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under Global Database’s China – Table CN.JA: USD: Trade: Value.

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China Trade Balance: Revised data was reported at 104.838 USD bn in Dec 2024. This records an increase from the previous number of 97.311 USD bn for Nov 2024. China Trade Balance: Revised data is updated monthly, averaging 23.159 USD bn from Jan 2000 (Median) to Dec 2024, with 300 observations. The data reached an all-time high of 104.838 USD bn in Dec 2024 and a record low of -61.992 USD bn in Feb 2020. China Trade Balance: Revised data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under Global Database’s China – Table CN.JA: USD: Trade: Value.

In 2024, China's balance of trade in agricultural products indicated a trade deficit of approximately 112.15 billion U.S. dollars. The trade deficit has increased considerably over the last two decades.