China’s Nine-Month Trade Surplus Hits $938 Billion

China's General Administration of Customs on Oct. 14, 2026 released September figures showing a $133.53 billion trade surplus, the highest since January 2025 and biggest in 20 months. Exports rose 36.3% year over year to a record $447.18 billion, above the 25.7% Bloomberg survey forecast, while imports climbed 31%. The nine-month surplus reached about $938.5 billion against last year's full-year record of $1.2 trillion. August's surplus was $119.09 billion; September beat the $117.8 billion Bloomberg median estimate. Last week EU and China trade chiefs Maros Sefcovic and Wang Wentao agreed to limit Chinese hybrid vehicle exports to Europe after months of standoff. Beijing characterized the deal as ensuring export space and steady growth for its carmakers. "Brussels is considering expanding restrictions to more strategic sectors, though we estimate that the impact of this on China's economy would be small," said Nguyen Hoang Nam, China economist at Capital Economics. Sources linked export strength to global demand for Chinese high-tech products amid the AI infrastructure boom. China posted a record $34.8 billion surplus with the EU in September. Analysts say the export-import breakdown, weak domestic indicators, and currency policy will shape market readings. No right-rated coverage was in the set.