China's Trade Surplus Jumps $84B, Smashing Record at $1.04T

China's trade surplus ran $84 billion higher year over year across the first 10 months of 2026, a gain of 8.8% that pushed the total to a record $1.04 trillion. It is the third straight year-over-year increase for that stretch of the calendar, adding up to $348 billion in cumulative gains. The 2026 tally has already blown past every previous full-year surplus except 2025, when China closed at a record $1.18 trillion.

October kept the momentum going: the monthly surplus rose $17 billion year over year to $105 billion. Exports powered the month, jumping 35% year over year to $412 billion, the third-highest reading on record. Imports were right behind, surging 42% year over year to $307 billion, their second-highest ever.

The numbers point to China's grip on global trade tightening rather than loosening. According to @KobeissiLetter, that dominance is accelerating on the back of the AI investment wave driving demand across borders. Both sides of the ledger — what China sells and what it buys — are running near all-time highs at the same time.