China Exports Surge 21.8% YoY in Jan-Feb

China’s exports surged 27% year-on-year to a record $412.39 billion in June 2026, smashing forecasts of 18.2%. The boom was driven by AI-related goods, with the global AI infrastructure rush creating a historic semiconductor shortage and soaring prices. Semiconductor exports soared 122%, the fastest growth in 13 years, while computer and parts exports rose 53%. Combined, chips and computers drove over a third of China’s export growth in June. China also exported over 1 million vehicles for the first time, with their value rising 70%, as local EV makers gained a 15% share in Europe. Ship exports jumped 42%, and home appliances rose 15%. China’s trade surplus with the EU surged 27% to a record $32.9 billion, intensifying pressure on European leaders to reduce reliance on China. Exports grew across major markets, including the EU (18.5%), US (13.9%), and ASEAN (34.6%), South Korea (42.6%), Taiwan (43.7%). For the first half of 2026, total exports advanced 17.6% to $2.12 trillion.

China’s exports surged 19.4% yoy to a record high of USD 376.78 billion in May 2026, far exceeding forecasts of 15% and accelerating sharply from April’s 14.1% rise. It was the fastest increase since February, as companies continued to build inventories to pre-empt energy price pressures stemming from the ongoing war in the Middle East, while persistent demand for semiconductors and AI hardware also supported exports. Among trading partners, outbound shipments grew to Japan (10.9%), the US (35.4%), Australia (23.6%), South Korea (42.1%), Taiwan (32.2%), the EU (7.6%), and ASEAN (24.3%). For the first five months of the year, total exports rose 15.5% year-on-year to USD 1.71 trillion. During the period, increases in export volumes were recorded for rare earths (2.2%), pharmaceuticals (7.6%), fertilizer (11.9%), unwrought aluminum and aluminum products (10.4%), and integrated circuits (8.7%), while volumes declined for refined oil (-12.0%), shoes and boots (-5.7%), and steel (-8.1%).

China’s exports surged 14.1% year-on-year to a record high of USD 359.44 billion in April 2026, far exceeding forecasts of 7.9% and accelerating sharply from March’s 2.5% rise, which was the weakest growth since October 2025. The acceleration in growth came as companies rushed to stockpile components from the manufacturing powerhouse amid fears that the Iran war could push input costs even higher. Shipments to the US soared 11.3% year-on-year to USD 36.8 billion, returning to growth after a 26.5% plunge in March despite tariffs imposed by the Trump administration. Shipments to the United States had also fallen 11% in January and February combined. Significant increases in shipments were also seen to Southeast Asia and Europe, the country’s major export destinations, while shipments to Japan rose 4%. For the first four months of the year, total exports still grew 14.5% year-on-year to USD 1.34 trillion. However, during the period, sales to the US dropped 10.2%.