China Balance of Trade

China has maintained continuous trade surpluses since 1995, which have expanded by tenfold between 2004 and 2009. Since a minor domestic demand and trade concerns with the United States, China had a $421.9 billion trade surplus in 2019, the most since 2016. Exports increased 0.5% while imports declined 2.7%. The largest trade surpluses were recorded with the United States, Hong Kong, the European Union in particular, the Netherlands, the United Kingdom, Poland, Spain, Italy, and Belgium, India, Vietnam, the Philippines, Singapore, the United Arab Emirates, Pakistan, Turkey, and Indonesia. Brazil, Chile, Germany, Switzerland, Japan, Taiwan, Australia, South Korea, Saudi Arabia, Malaysia, Oman, and Russia were the countries with the largest trade deficits.