Emirates 24/7 — China's trade surplus soared to an all-time high during the combined January-February period, with exports significantly exceeding market expectations despite ongoing trade tensions with the United States.
According to the latest customs data, the trade balance rose to $213.62 billion, comfortably surpassing the $179.6 billion forecast by analysts.
Chinese exports jumped 21.8% year-on-year for the first two months of 2024, far outstripping the 7.1% growth predicted by economists in a Reuters poll.
While trade with the United States fell by 16.9% to approximately $88.22 billion, China saw significant increases in trade with the European Union and ASEAN, which rose by 19.9% and 20.3% respectively.
The trade figures come as Beijing navigates a complex economic landscape characterized by fluctuating tariffs following the return of Donald Trump to the U.S. Presidency in early 2025.
Despite current U.S. tariffs remaining high for specific products, the overall resilience of the Chinese economy remains evident as it targets a GDP growth rate of 4.5% to 5% for the year.