China's Trade Surges 15.3% in Jan-May 2026 as Imports Jump

China's total goods trade reached 20.68 trillion yuan ($RMB) in the first five months of 2026, up 15.3% year-on-year, according to customs data.

Exports during the January–May period rose 11.8% from a year earlier to 11.91 trillion yuan, while imports increased 20.5% to 8.77 trillion yuan.

In May alone, China's total goods trade climbed 16.9% year-on-year to 4.45 trillion yuan. Exports rose 13.8% to 2.59 trillion yuan, while imports advanced 21.5% to 1.86 trillion yuan.

By trade type, general trade totaled 12.47 trillion yuan in the first five months, up 8.3% from a year earlier. Processing trade increased 22.9% to 3.95 trillion yuan, while bonded logistics trade surged 41.8% to 3.59 trillion yuan.

Among major trading partners, trade between China and ASEAN reached 3.52 trillion yuan, an increase of 16.6% year-on-year. Trade with the European Union rose 10.3% to 2.53 trillion yuan. In contrast, trade with the United States fell 6.6% to 1.61 trillion yuan.

During the same period, China's trade with countries participating in the Belt and Road Initiative totaled 10.57 trillion yuan, up 13.6% from a year earlier.

Private enterprises remained the largest contributors to foreign trade, with imports and exports totaling 11.81 trillion yuan, up 15.5% year-on-year. Foreign-invested enterprises recorded trade of 6.02 trillion yuan, an increase of 15.7%, while state-owned enterprises posted trade of 2.81 trillion yuan, up 14%.

In exports, shipments of mechanical and electrical products rose 18.4% year-on-year to 7.58 trillion yuan in the first five months. Exports of labor-intensive products fell 3.1% to 1.61 trillion yuan, while agricultural product exports increased 1.6% to 300.79 billion yuan.

On the import side, imports of mechanical and electrical products climbed 25.3% year-on-year to 3.54 trillion yuan. Crude oil imports totaled 218 million tonnes, down 4.8% from a year earlier. Agricultural product imports rose 7.6% to 618.16 billion yuan.