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Economic Data Release

CHINESE EXPORTS CONTINUE THEIR STRONG RUN

ADMIN || 14th October 2025

Chinese shipments overseas grew at the fastest rate in six months, with exports rising 8.3% in September from a year earlier to $328.6 billion. This was faster than the 6.6% median estimate in a Bloomberg survey of economists and shows there’s no slowdown yet in the record-breaking flood of goods leaving China’s shores.

Shipments to the US plunged 27%, the sixth month of double-digit declines but strong growth in sales to regions like the European Union, where exports rose by more than 14%, helped offset the decline. Chinese exports to the 10-nation Southeast Asian trading bloc grew almost 16%. Shipments to Africa surged 56% last month the fastest since February 2021 with exports to Latin America rebounding 15.2% from declines in June and August.

In total Chinese export growth to non-US destinations quickened to 14.8% from 11.2%, the fastest pace since March 2023.

Vietnam was among major trade partners seeing the biggest increases, with China’s exports there jumping almost 25% even as growth moderated. Vietnam is fast emerging as the “the top rerouting hub” and the latest figures suggest “rerouting remains a key offset against US tariffs.”

Chinese imports grew 7.4% in September, far more than forecast, leaving a surplus of $90.5 billion. As China holds back from buying American goods like soybeans, its trade surplus with the US actually widened slightly from $20 billion in August to near $23 billion in September.

China’s exports to the EU exceeded its imports by almost $23 billion, resulting in the smallest trade surplus with the bloc since March.

Summary: Chinese firms have responded to higher US tariffs by trying to seek out alternative markets or routing goods indirectly to the world’s biggest economy. The strength of demand from markets other than the US means that Chinese firms should be less affected by the further increase in tariffs threatened by President Donald Trump. Higher sales overseas are also providing a boost to a domestic economy in deflation and still struggling to reverse a decline in housing demand and prices.

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