China's trade surplus exceeds $1 trillion for second consecutive year

China logged a trade surplus of $1.04 trillion between January and October, official data showed Tuesday, as exports continued their rapid ascent despite some moderation in recent months. October exports jumped 35.2 percent year-on-year, while imports rose 41.6 percent, indicating sustained global demand for Chinese manufactured goods even as domestic consumption accelerated.

The latest figures put China on pace to potentially exceed last year's record $1.2 trillion surplus. However, the monthly surplus narrowed to $105.3 billion in October from $133.5 billion in September, suggesting a gradual rebalancing as imports gained momentum.

The surge in exports has been primarily fueled by high-tech sectors including semiconductors and automobiles, which have captured growing shares of global markets. Economists expect this trend to persist through year-end, with electronics and automotive products continuing to lead growth. "We expect Chinese exports to stay strong for the rest of this year, led by electronics and autos," said Dave Chia, an economist at Moody's Analytics.

The persistent trade surplus reflects structural factors including overcapacity across multiple industries, substantial domestic savings, and softer domestic demand, compelling Chinese manufacturers to rely on export markets. The trade data comes amid heightened international scrutiny over China's export-driven economic model and its impact on global trade flows.