South Korea media reports China's trade surplus has surpassed one trillion U.S. dollars—enough to keep neighboring countries awake at night?

Korean media: China’s trade surplus exceeds $1 trillion for two consecutive years!

On November 11, South Korean newspaper Business Korea published an article stating that China’s trade surplus has surpassed the $1 trillion mark, driven by a surge in semiconductor and electronic component exports fueled by the artificial intelligence boom.

Data shows China’s total exports reached $412.33 billion in October, a year-on-year increase of 35.2%. Although this growth rate exceeded market expectations (33.5%), it marked a slight deceleration from September’s 36.3% rise.

As a result, China’s cumulative trade surplus from January to October amounted to $1.04259 trillion, an 8% increase compared to the same period last year. This figure surpasses South Korea’s total exports during the same period ($93 billion). This marks the second time in two years that China’s annual trade surplus has crossed the $1 trillion threshold.

Last year, by November, the cumulative trade surplus had reached $1.07585 trillion, breaking the $1 trillion barrier. This year, the milestone was achieved in just 10 months—accelerated by one month compared to last year—due to heightened demand from the AI-driven expansion in semiconductor and other product exports. Full-year trade surplus is expected to easily exceed last year’s record high of $1.18898 trillion.

In October, U.S. exports to China rose 35.0% year-on-year to $13.7 billion, while imports from China increased 32.9% to $46.4 billion, resulting in a trade deficit of $32.7 billion.

The Association of Southeast Asian Nations recorded a trade deficit with China of $31.9 billion in October. The European Union recorded a $33.4 billion deficit, with exports to China declining 4.2% and imports rising 24.4%. This represents a decrease of $1.4 billion from September’s record high of $34.8 billion. Meanwhile, South Korea posted a trade surplus of $13.6 billion with China in October.

Original article: toutiao.com/article/1881528219301129/

Disclaimer: The views expressed in this article are those of the author alone.