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China’s trade surplus came in at USD 102.33 billion in August 2025, surpassing expectations of USD 99.2 billion and higher than the USD 91.29 billion recorded in the same month a year earlier, as exports continued to outpace imports. Exports grew 4.4% yoy, falling short of forecasts for a 5% gain and easing from a 7.2% rise in July, as a temporary boost from Beijing's tariff truce faded. Meanwhile, imports rose by 1.3%, below expectations of a 3% growth, and slowing from a 4.1% gain in July, as a persistent property sector downturn, rising job insecurity, and the tapering of consumer-focused stimulus kept domestic demand subdued. China’s trade surplus with the US declined to USD 20.32 billion in August, down from USD 23.74 billion in July, as both exports and imports with the US declined, falling 33.1% and 16.0%, respectively. Year-to-date, China posted a total trade surplus of USD 785.3 billion, with exports up 5.9% yoy, while imports fell by 2.2% compared to the same period in 2024.