China's exports grow 21.8% in first two months of 2026

China's trade performance exceeded expectations at the beginning of 2026, with exports rising sharply. The growth rate reached 21.8% year-on-year for January and February, compared to 5.5% in the previous year. This surge was propelled by key sectors amid global demand.

China's exports expanded by 21.8% year-on-year during the first two months of 2026, marking a significant acceleration from the 5.5% growth recorded in 2025. This figure surpassed market forecasts, signaling a robust start to the year for the country's trade sector.

The increase was primarily driven by shipments in ships, chips, and automobiles, which continued to fuel export strength. Global demand played a crucial role in countering the negative effects of US tariffs on Chinese goods.

Alongside the export boom, imports also showed strong growth, which could reassure trading partners. This development aligns with China's efforts to achieve a more balanced trade profile.

Lynn Song, Chief Economist for Greater China at ING, highlighted these trends in an analysis published on March 10, 2026. The data underscores the resilience of China's export engines despite external pressures.

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Photorealistic scene of Busan Port symbolizing South Korea's 14.9% export surge to $36.36 billion driven by semiconductors, with a minor trade deficit.
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South Korea's exports rise 14.9% in first 20 days of January

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South Korea's exports expanded 14.9 percent year-on-year in the first 20 days of January, reaching $36.36 billion, fueled by strong semiconductor demand. Imports grew 4.2 percent to $36.98 billion, resulting in a $600 million trade deficit. Data from the Korea Customs Service underscores ongoing growth in key sectors.

China's foreign trade rose 18.3 percent year-on-year to 7.73 trillion yuan in the first two months of 2026, economists say this will underpin the country's growth target and provide stability for the global economy. Exports increased 19.2 percent, while imports grew 17.1 percent, reflecting improved global demand and domestic industrial strengths.

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China's exports rose 5.5 percent in 2025 to US$3.77 trillion, while imports stayed flat at US$2.58 trillion, yielding a record trade surplus of US$1.19 trillion. The performance beat forecasts despite trade headwinds, fueled by diversification into markets like Asean and Africa. Officials attribute the strong results to supportive policies and the country's industrial depth.

Japan’s exports increased 6.1% in November from a year earlier, surpassing economists’ forecast of 5.0%, according to the Finance Ministry. Shipments to the U.S. rose 8.8% and to the EU 19.6%, offsetting a decline to China. The overall trade balance showed a surplus of ¥322.3 billion.

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Chinese carmakers sold more than 2.6 million electric vehicles to overseas markets last year, up 104 percent from the previous year, according to the China Association of Automobile Manufacturers. As the world's leading EV producer, China benefits from low production costs and advanced battery technologies that make its vehicles highly competitive globally. Yet, export growth is now facing a slowdown.

As China enters the first year of its 15th Five-Year Plan, policymakers are prioritizing underlying stability and balance over mere growth rates. Recent measures include targeted fiscal support and incentives for care services. This approach aims to foster sustainable development amid global uncertainties.

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South Korea's exports rose 8.2 percent year-on-year in the first 20 days of November, fueled by strong demand for semiconductors and automobiles. Outbound shipments reached $38.5 billion, up from $35.6 billion a year earlier, according to Korea Customs Service data. Imports grew 3.7 percent to $36.1 billion, yielding a $2.4 billion trade surplus.

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