16 Dec 25 4 min read
Insights
- China's trade surplus has surpassed $1 trillion in 2025, supported by strong industrial exports and wider market reach that helped offset US tariffs.
- However, the widening imbalance is escalating global concern and increasing pressure on Beijing to boost domestic consumption and imports to ease growing trade friction worldwide even further.
Weak domestic demand
A major driver of the swelling surplus is subdued domestic consumption. The downturn in the property market, job uncertainties and weakened household incomes have curtailed spending, causing imports to stagnate even as the economy grows at nearly * per cent.
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