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

Source: Sina