China Announces Record Trade Surplus as Its Exports Flood World’s Markets
The New York Times • • general
Key Points:
- China reported the world’s largest trade surplus ever in 2024, reaching $1.19 trillion, a 20% increase from the previous year, according to data from the General Administration of Customs.
- December alone saw a trade surplus of $114.14 billion, marking the third-highest monthly surplus on record.
- Despite U.S. tariffs aimed at limiting China’s exports, Chinese factories boosted sales to other regions and circumvented tariffs by routing goods through Southeast Asia.
- China’s growing trade surplus is also driven by weak imports, as the government pursues policies to replace imports with domestic production and enhance national self-reliance.
- These self-reliance goals were reinforced in China’s recent economic five-year
