Trade Balance in China

China's trade balance measures the net difference between the country's goods exports and imports. It is published monthly by the General Administration of Customs (GACC) in both yuan (CNY) and dollars (USD), alongside the year-on-year growth rates of exports and imports in each currency.

It is calculated as goods exports minus goods imports from customs records. The headline is the monthly balance in billions of dollars (or yuan); export and import growth rates are expressed as year-on-year percentages. January and February data are usually combined to smooth the Lunar New Year effect.

As the world's largest exporter, China's trade balance is a key gauge of global demand and of the health of its external sector. Strong exports signal robust foreign demand, while weak imports are often read as soft Chinese domestic demand, affecting the currencies of trading partners and commodity prices.

The Lunar New Year effect distorts early-year data, so January and February are released combined. The series is volatile month to month, and the yuan and dollar figures can diverge because of exchange-rate moves. It covers goods only, not services.