China's goods trade reached 44.81 trillion yuan in 2026, with imports and exports growing 20%, driven by strong demand and trade partnerships.
According to customs statistics, China's total goods trade imports and exports reached 44.81 trillion yuan in the first ten months of 2026, representing a year-on-year increase of 20%. Exports totaled 25.99 trillion yuan, up 17.6%, while imports reached 18.82 trillion yuan, up 23.6%. Import growth continued to outpace export growth, and the trade structure maintained its trajectory of ongoing optimization.
October's single-month performance was particularly notable. Total imports and exports for the month reached 4.87 trillion yuan, up 31.2%, with exports at 2.79 trillion yuan, up 28.7%, and imports at 2.08 trillion yuan, up 34.7%. Single-month growth rates significantly exceeded the cumulative level for the first ten months, indicating that foreign trade momentum continued to strengthen at the start of the fourth quarter.
By trade modality, general trade imports and exports reached 26.8 trillion yuan in the first ten months, up 13.2%, maintaining its dominant position. Processing trade imports and exports reached 8.92 trillion yuan, up 28.4%, while bonded logistics imports and exports reached 7.69 trillion yuan, up 44.1% - the highest growth rate among the three modalities - reflecting the vitality of emerging business formats such as cross-border e-commerce and bonded warehousing.
Among major trading partners, ASEAN remained China's largest, with bilateral trade totaling 7.68 trillion yuan in the first ten months, up 24.2%. The European Union ranked second, with total trade of 5.29 trillion yuan, up 8.5%. China-US trade totaled 3.59 trillion yuan, up 6.3%, sustaining positive growth. Over the same period, China's total imports and exports with Belt and Road Initiative partner countries reached 22.88 trillion yuan, up 18.5%, with their share of total foreign trade value rising further.
Among foreign trade entities, private enterprises recorded imports and exports of 25.46 trillion yuan, up 20.1%, continuing to serve as the primary driver of foreign trade. Foreign-invested enterprises recorded 13.15 trillion yuan, up 20.4%, while state-owned enterprises recorded 6.12 trillion yuan, up 19.1%. Growth rates across all three categories were broadly balanced, each exceeding 19%.
On the export side, electromechanical products reached 16.81 trillion yuan, up 25.2%, sustaining robust growth momentum. Labor-intensive products reached 3.45 trillion yuan, up 2.4%, and agricultural products reached 622.08 billion yuan, up 3.9%. On the import side, electromechanical products reached 8.17 trillion yuan, up 35%; crude oil imports totaled 400 million tons, down 15.1%; and agricultural products reached 1.29 trillion yuan, up 4.6%. The high growth recorded on both the import and export sides of electromechanical products reflects active linkages across the upstream and downstream segments of the supply chain.
Overall, China's foreign trade sustained relatively strong growth in the first ten months of the year against a complex external environment. Import growth continued to outpace export growth, and positive developments were evident across trade modalities, partner structures, and the vitality of market entities. For freight forwarders and foreign trade enterprises, volume growth in electromechanical products, bonded logistics, and trade flows toward ASEAN and Belt and Road Initiative partners continues to represent a significant driver of downstream transportation demand. Advance arrangement of vessel space and shipment plans - calibrated to specific trade lanes and cargo types - is recommended to capture the opportunities this momentum presents.
