China’s exports increased by 5.9% year-on-year to an eleven-month high of USD 330.3 billion in November 2025, surpassing expectations for a 3.8% growth and rebounding from a 1.1% fall in October. This increase in outbound came as firms rushed to move inventory to take advantage of a fresh tariff truce with the US. In November, the US and China agreed to scale back some of their tariffs and a raft of other measures after US President Donald Trump and Chinese President Xi Jinping met in South Korea on October 30. Among trading partners, exports grew to Japan (4.3%), South Korea (1.9%), Taiwan, Australia (35.8%), ASEAN (8.2%), and the EU (14.8%), while shipments to the US slumped by 28.6%. For the first 11 months of 2025, China’s exports rose 5.4% from a year earlier to USD 3.41 trillion. During the period, export growth was recorded in several key product categories, including agricultural products (1.2%), ICs (24.7%), fertilizer (61.5%), textiles (0.9%), cars (16.7%), and LCDs (10.5%).

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