China’s trade surplus with Europe larger than with U.S. for first time
20 Nov, 2025
For the first time ever, China had a larger trade surplus with Europe than with the U.S. over the period of the last 12 months, posing serious questions over the future of European industry.
Except for three months in 2008, following the exceptional circumstances of the subprime crisis that severely impacted the US economy, this has never happened before.
According to Chinese customs data, between October 2024 and October 2025, the surplus with Europe reached $310 billion, compared with $302 billion for the surplus with the U.S.