FX.co ★ China Posts Biggest Trade Surplus in 20 Months

China’s trade surplus widened to $133.53 billion in September 2026, up from $88.72 billion a year earlier and above market expectations of $118.1 billion. This was the largest monthly surplus since January 2025.

Exports surged 36.3% year-on-year to $447.18 billion, beating forecasts of 25.5% and registering the fastest pace in seven months, as the global AI infrastructure boom continued to fuel robust demand for Chinese high-tech goods. Imports also posted strong growth, jumping 31.0% year-on-year to $313.66 billion, up from a 28.2% rise in August and exceeding projections of 24.5%.

China’s trade surplus with the United States expanded to $34.01 billion in September from $29.18 billion in August, supported by a 9.8% increase in exports to the US.

Over the first nine months of 2026, China’s cumulative trade surplus reached $938.51 billion, with exports up 21.3% and imports rising 27.5%. At this pace, the full-year surplus is on track to exceed $1 trillion for a second consecutive year and to surpass last year’s record of $1.2 trillion.