China Trade Surplus Beats Estimates

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China’s trade surplus reached USD 213.62 billion in the first two months of 2026, surpassing market expectations of USD 196.6 billion and following a record surplus of USD 1.189 trillion in 2025. Exports jumped 21.8% year-on-year to USD 656.58 billion, accelerating sharply from a 6.6% rise in December and easily beating forecasts of 7.1%. The surge marked the fastest growth in outbound shipments since October 2021, supported by firm global demand and a strong start to the year. Meanwhile, imports climbed 19.8% to USD 442.96 billion, far exceeding expectations of a 6.3% increase and quickening from 5.7% in December. It was the strongest pace of import growth since January 2022, reflecting resilient domestic demand during the festive season and increased purchases of raw materials and consumer goods.

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