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Chinese exports rise in December, beating expectations

January 13, 2025

China's trade surplus increased in 2024, with Germany one of the many countries operating at a deficit to Beijing. Chinese factories were rushing to produce as much as possible ahead of Donald Trump's promised tariffs.

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Chinese cars wait to be loaded onto container ships
Chinese cars became increasingly ubitquitous in 2024 (FILE: DECEMBER 2024)Image: AFP/Getty Images

China saw its exports grew more than expected in December, as factory production kicked into high gear ahead of US President-elect Donald Trump returning to office.

According to official data published on Monday, December exports rose by 10.7% compared to a year earlier. This is in part due to Chinese industry rushing to get products to market before Trump imposes his promised tariffs on Chinese goods.

Imports grew by 1%, defying expectations that they would shrink. In total, China's trade surplus grew by $104.8 billion (€102.6 billion).

Total exports for 2024 reached $3.58 trillion, an increase of 5.9% over 2023.

China had set an ambitious goal of 5% growth for 2025, with final figures on whether they achieved that level due on Friday.

Trump plans new tariffs on Canada, China and Mexico

Germany's trade deficit grows

Like many other countries, Germany's trade deficit with China also grew in 2024. Beijing's numbers show that Chinese exports to Germany grew by 12.5% in December, while imports slumped by 9.6%.

Some of this has to do with decreased demand worldwide for German automobilies, particularly in China as homemade electric vehicles swarm the market. Chinese EV exports rose by 13% globally, the figures showed. 

For the whole of 2024, these figures amounted to an increase of 6.5% in exports from China to Germany with a 10.7% drop in imports from Germany.

E-commerce, electronics key to growth

Under leader Xi Jinping, Chinese manufacturing has shifted to more "high-end" electronic goods, after decades of China being known for the mass production of cheap and flimsy equipment. To that end, the export of electronic equipment rose 9% last year. For the most advanced equipment, the number skyrocketed by more than 40%.

E-commerce trade also pushed exports ever higher, with low-cast online retailers like Temu, Shein, and Alibaba reaching 2.6 trillion yuan ($350 billion). That amount is double what they earned in the 2020 pandemic year.

Analysts have predicted that this rapid pace of export may slow in 2025 however, if Trump makes good on promises to slap high tariffs on Chinese goods. Exports to the US increased 15.6% in 2025, and Trump has made it known that he views the trade deficit with China as one of the major issues he wants to fix.

In total, China's import and export business registered a staggering 43.9 trillion yuan (almost $6 trillion) last year, government officials said.

es/ab (AP, dpa)