On June 9, the General Administration of Customs released national import and export statistics for the first five months of 2026. The total import and export value of national trade in goods reached 20.68 trillion yuan, a year-on-year increase of 15.3%, and the growth rate was 0.4 percentage points higher than the previous four months. The momentum for foreign trade recovery continues to strengthen.
This dazzling report card comprehensively proves the resilience of China’s economy and the effectiveness of industrial transformation.
Looking at the core data, exports were 11.91 trillion yuan, a year-on-year increase of 11.8%, and imports were 8.77 trillion yuan, a year-on-year increase of 20.5%. The rebound in domestic demand drove imports to continue to increase at a high rate.
In May alone, imports and exports totaled 4.45 trillion yuan, and the monthly foreign trade scale has stood at the 4 trillion mark for three consecutive months, significantly improving operational stability.
Changes in commodity structure have important bellwether significance.
Exports of mechanical and electrical products were 7.58 trillion yuan, an increase of 18.4%. New energy vehicles, photovoltaics, energy storage, and semiconductor equipment became the main exports; exports of traditional labor-intensive products fell by 3.1%. The trend of industrial upgrading to replace low-end manufacturing is very clear. Foreign trade growth has completely got rid of dependence on low value-added products.
The pattern of trading partners continues to be diversified, effectively hedging the impact of external unilateralism.
In the first five months, my country’s imports and exports with ASEAN were 3.52 trillion yuan, an increase of 16.6%. ASEAN remained the largest trading partner; imports and exports with the EU increased by 10.3%; imports and exports with countries jointly building the “Belt and Road” exceeded 10.57
trillion yuan, with a growth rate of 13.6%; imports and exports to Africa reached 1.14 trillion yuan, exceeding one trillion yuan for the first time in history. Since May, the zero-tariff policy of African countries with diplomatic relations has been fully implemented, and imports of agricultural products and resource products from Africa have increased for nine consecutive months.
In contrast, the total trade value between China and the United States was 1.61 trillion yuan, a year-on-year decrease of 6.6%. The United States’ continued trade protection policies are continuously shrinking its economic and trade space with China.
At the level of business entities, private enterprises still play the backbone of foreign trade and can flexibly adapt to global market demand; the growth rate of bonded logistics import and export is as high as 41.8%, new business formats such as cross-border e-commerce and overseas warehouses are showing explosive growth, and new trade models continue to expand.
The Director of the Analysis Department of the General Administration of Customs commented that the current steady growth of foreign trade relies not only on the global cooperation layout driven by the diplomacy of the head of state, but also on the advantages of the complete industrial chain of domestic manufacturing.
Currently, global trade demands are differentiated and trade barriers are emerging in endlessly. However, the core secret to China’s foreign trade achieving double-digit growth lies in the upgrading of independent industries.
High-end manufacturing exports seize the global market, diversified trade layout spreads risks, expansion of domestic demand drives import growth, and internal and external circulation is opened up in both directions.
In the future, with the implementation of regional free trade agreements, the zero-tariff policy in Africa continuing to release dividends, and the release of production capacity in new energy, AI, and high-end equipment industries, the fundamentals of China’s long-term foreign trade improvement will not change.
No unilateral suppression or trade blockade can stop China from deeply integrating into the global economy.
