China Trade Surplus Beats Estimates

China’s trade surplus came in at USD 102.33 billion in August 2025, surpassing market expectations of USD 99.2 billion and higher than the USD 91.29 billion recorded in the same month a year earlier, as exports continued to outpace imports. Exports grew 4.4% year-on-year, falling short of forecasts for a 5% increase and easing from a 7.2% rise in July, as a temporary boost from Beijing's tariff truce faded. Meanwhile, imports rose by 1.3%, below expectations of a 3% increase, and slowing from a 4.1% gain in July, as a persistent property sector downturn, rising job insecurity, and the tapering of consumer-focused stimulus kept domestic demand subdued. China’s trade surplus with the US declined to USD 20.32 billion in August, down from USD 23.74 billion in July. For the first eight months of 2025, China registered a total trade surplus of USD 785.3 trillion, with exports up 5.9% year-on-year, while imports fell by 2.2% compared to the same period in 2024.