Chinese exports jump 27% in June, car shipments top 1 million units as imports also beat forecasts

Export engine races ahead

Outbound shipments rose 27.0% from a year earlier in U.S. dollar terms, customs data showed on Tuesday, accelerating from a 19.4% gain in May. A Reuters poll of economists had projected growth of 18.2%. The result marks the fastest pace in four months, according to one report, and was driven partly by surging chip prices tied to the global build-out of AI data centers.

Autos cross a million-unit threshold

Monthly car exports hit 1.06 million units in June, a 71.2% increase from the prior year and a fresh record. The country is now on course to export more than 10 million cars this year after shipping 7.1 million in 2025 and 4.9 million in 2023. BYD moved 175,000 units overseas in June (up 95% year-on-year), Geely reported 102,874 (up 157%), and state-backed Chery shipped 191,062 (up 80%), setting a new single-brand monthly record.

We are not only the world's largest exporter but also the world's second-largest importer.

The pivot to exports comes as domestic sales soften following the phaseout of EV subsidies and shrinking demand for fuel-powered cars. Chinese and foreign brands alike are routing more production abroad, triggering steep tariffs from the EU and other markets. In the early 2020s the boom was led by cheap combustion-engine cars headed to Russia and Mexico, but EVs now dominate the growth. As recently as 2021, EVs accounted for about 15% of car exports; the mix has shifted sharply as makers launch a global assault with software-rich, lower-cost models.

Imports outrun expectations

Imports expanded 36.0% year-on-year, well above the 24.0% forecast and the 27.4% recorded in May. Hardware needed for AI data centers lifted chip-related purchases across the region, according to one report. Customs spokesman Lyu Daliang noted that China is the world's second-largest importer, a role that sometimes gets lost behind the export headlines.

Oil imports buck the trend

Not every cargo number pointed upward. Crude oil purchases tumbled 41% year-on-year to 29.27 million tons, the smallest volume since October 2016, according to separate customs data cited by Bloomberg. The decline was attributed to the war in the Persian Gulf and an abrupt domestic demand slowdown.

The wider trade picture

China's trade surplus for the first six months of the year stood at $576 billion, down 4.7% from the same period a year earlier. The figures highlight a two-speed trade dynamic: booming shipments of manufactured goods (cars and AI-related electronics) alongside retreating commodity imports in certain categories. The strength of June's data will add to trade frictions with partners such as the EU, which have already imposed tariffs on Chinese electric vehicles, and will keep pressure on Japanese, South Korean, European and U.S. carmakers.