China’s foreign trade tops US$3.5 trillion in H1 2026

Summary

China's total import and export volume reached US$3,2.22 billion in the first half of 2026, up 2.21 percent year-on-year, surpassing US$2.20 trillion for the first time. Exports rose 17.6 percent to US$2,125.359 billion, while imports grew 26.6 percent to US$1,549.383 billion. The trade surplus narrowed 1.25 percent to US$575.976 billion.

Trade with Asia increased 23.5 percent, Europe 23 percent, Africa 24 percent, Latin America 20.3 percent, North America 2.2 percent, and Oceania 34.8 percent.

Commentary

China's foreign trade exceeded US$3.5 trillion in the first half of 2026, with Oceania trade surging 34.8 percent, including a 40.6 percent jump in China's imports from the region. This reflects sustained strong demand for New Zealand's key products such as dairy and meat. Following the upgrade of the China-New Zealand FTA, dairy tariffs are decreasing year by year, providing room for smaller NZ exporters to expand market share in China.

Meanwhile, China's imports from Latin America rose 29.6 percent, intensifying competition from substitutes like South American beef. NZ firms need to strengthen differentiation advantages such as 'grass-fed' and 'traceability'. With China's import growth outpacing exports, the trade surplus is narrowing, signalling an expanding domestic market.

Small and medium enterprises can leverage cross-border e-commerce to directly reach consumers in second- and third-tier cities, but should closely monitor logistics costs and exchange rate fluctuations.

Keywords: foreign trade, General Administration of Customs, total import and export volume, trade surplus, year-on-year growth, Asian trade, European trade, African trade, Latin American trade, North American trade

Summary in Chinese | 摘要

2026年上半年中国进出口总额2.22亿美元，同比增长2.21%，历史同期首次突破2.20万亿美元。出口21253.59亿美元增17.6%，进口15493.83亿美元增26.6%，顺差5759.76亿美元降1.25%。亚洲贸易增23.5%，欧洲增23%，非洲增24%，拉美增20.3%，北美洲仅增2.2%，大洋洲增34.8%。

Commentary in Chinese | 评论

2026年上半年中国外贸总额突破3.5万亿美元，大洋洲对华贸易额猛增34.8%，其中中国自大洋洲进口飙升40.6%，显示中国对乳制品、肉类等新西兰优势产品的需求持续旺盛。中新自贸协定升级后，乳制品关税逐年递减，为新西兰中小型出口商提供了扩大中国市场份额的空间。与此同时，中国自拉美进口增长29.6%，南美牛肉等替代品竞争加剧，新西兰企业需强化“草饲”“可追溯”等差异化优势。

当前中国进口增速高于出口，贸易顺差收窄，预示内需市场打开，中小企业可借助跨境电商等新业态，直接触达二三线城市消费者，但需密切关注物流成本与汇率波动。

关键词: 对外贸易, 海关总署, 进出口总额, 贸易顺差, 同比增长, 亚洲贸易, 欧洲贸易, 非洲贸易, 拉丁美洲贸易, 北美洲贸易

Source: Sina