China's September Exports Rise 36.3%, Imports Up 31% as Trade Surplus Widens to $133.53 Billion
China's General Administration of Customs released the country's September and January-September 2026 trade figures at a State Council Information Office press conference on October 14 (Beijing time). In US dollar terms, China's exports in September rose 36.3% from a year earlier to $447.18 billion, while imports grew 31.0% to $313.66 billion, leaving a trade surplus of $133.53 billion for the month, the largest monthly surplus since January 2025.
The figures came in above market expectations. A Reuters poll of economists had forecast export growth of 25.5%, import growth of 24.5% and a median trade surplus of $118.10 billion for September. In August, exports had risen 25.0% year on year, imports 28.2%, and the trade surplus stood at $119.09 billion.
In yuan terms, China's total trade in September reached 5.16 trillion yuan, up 27.5% year on year, topping 5 trillion yuan in a single month for the first time. Exports were 3.03 trillion yuan, up 29.6%, and imports 2.13 trillion yuan, up 24.6%. Customs spokesperson and deputy commissioner Wang Jun said monthly trade growth has stayed in double digits for six consecutive months, with the pace accelerating each quarter: 15.3% in the first quarter, 18.3% in the second and 22.3% in the third.
For the first nine months of 2026, China's trade surplus in dollar terms totaled $938.51 billion, with exports up 21.3% and imports up 27.5% from a year earlier. In yuan terms, total trade over the period was 39.94 trillion yuan, up 18.8%, including exports of 23.2 trillion yuan (up 16.4%) and imports of 16.74 trillion yuan (up 22.3%).
By market, China's exports to ASEAN rose 52.3% year on year in September, exports to the European Union rose 25.3%, and exports to the United States rose 39.6%. In yuan terms for the first three quarters, trade with ASEAN totaled 6.84 trillion yuan (up 22.7%), trade with the EU 4.78 trillion yuan (up 8.4%), and trade with the United States 3.18 trillion yuan (up 4.1%).
By product, customs data for the first three quarters (in yuan terms) showed exports of integrated circuits up 99.1%, electric vehicles up 72.3%, lithium batteries up 36.4%, and wind turbines and parts up 22.4%. Equipment manufacturing contributed nearly 90% of the increase in exports. Private enterprises recorded 22.73 trillion yuan in trade over the period, up 19.1% and accounting for 56.9% of the total.
Separately, Reuters reported, citing customs data, that China's rare earth exports in September were 4,269.8 metric tons, up 6.7% from a year earlier but down 9.8% from 4,735 tons in August. Rare earth exports in the first nine months totaled 43,711 tons, down 9.6% year on year.
(Sources: General Administration of Customs of China; Reuters)
Published by GSM · USA (original Chinese edition)
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