连续8个季度正增长！“逆风逆流”下中国9月出口创出年内新高

Core Viewpoint - China's foreign trade has exceeded expectations in the face of global economic challenges, with significant growth in both exports and imports in the first three quarters of 2025, indicating resilience and structural improvements in trade dynamics [2][4]. Trade Performance - In the first three quarters of 2025, China's total goods trade reached 33.61 trillion yuan, a year-on-year increase of 4%, with exports at 19.95 trillion yuan, growing by 7.1% [2]. - In September alone, total trade amounted to 4.04 trillion yuan, reflecting an 8% increase [2]. - The trade surplus for September was 904.5 billion USD, marking an increase of 86.9 billion USD compared to the previous year [4]. Export Dynamics - September's export growth was driven by multiple favorable factors, with exports valued at 328.57 billion USD, an 8.3% increase year-on-year, marking the highest monthly export figure of the year [4]. - Exports to non-U.S. countries remained robust, with significant contributions from Africa, ASEAN, and the EU, which contributed 2.7, 2.4, and 2.0 percentage points to export growth, respectively [5]. - High-tech and electromechanical products dominated export growth, with electromechanical products accounting for over 63% of total exports in September [6]. Import Trends - Imports in September reached 238.12 billion USD, a 7.4% year-on-year increase, significantly higher than the previous month's growth of 1.3% [4][7]. - Key imports included integrated circuits, industrial metals, and aircraft, with integrated circuit imports rising by 14.1% [7]. - However, energy imports remained weak, with crude oil and coal imports declining by 7.4% and 28.1%, respectively [7]. Future Outlook - The export growth is expected to moderate in the fourth quarter but is likely to remain positive, supported by ongoing negotiations between China and the U.S. regarding tariffs [3]. - The "Belt and Road" initiative continues to bolster trade with partner countries, with imports from these nations growing by 6.2% in the first three quarters [6]. - Domestic economic policies are anticipated to support a gradual recovery in import growth, with expectations for continued improvement in 2025 [8].