Regional Distribution of China's Trade Surplus in 2023: US, EU, ASEAN Dominate

Regional Structure of Trade Surplus

In 2023, China's total foreign trade surplus was approximately USD 800 billion. From a regional perspective, the surplus was highly concentrated in three major trading partners: the United States, the European Union, and ASEAN.

• United States: accounted for about 35% of the surplus, or roughly USD 280 billion. The US-China trade structure is complementary, with China maintaining a strong export advantage in areas such as electromechanical products and textiles.
• European Union: accounted for about 31%, or USD 250 billion. China's exports to the EU are dominated by machinery, equipment, and electronics, while imports are mostly high-end manufactured goods and consumer products.
• ASEAN: accounted for about 15%, or USD 120 billion. With deepening regional supply chain cooperation, China's exports of intermediate goods to ASEAN have continued to grow.
• Other regions: accounted for about 19%, or USD 150 billion. These include surpluses with emerging markets such as India, Brazil, and Russia, as well as deficits with Japan, South Korea, etc. (not shown in the chart).

Data Notes

This chart is based on goods trade data published by the General Administration of Customs of China for 2023, with reasonable estimates. Since deficit regions (e.g., Japan, South Korea, Australia) are not included, the pie chart only reflects the structure of surplus regions. A complete analysis of the trade balance should incorporate deficit factors.