国家外汇局：2025年四季度我国经常账户顺差17137亿元

Core Insights - The State Administration of Foreign Exchange has released preliminary data on China's balance of payments for the fourth quarter and the entire year of 2025, indicating a significant surplus in the current account and a deficit in the capital and financial account [1][2] Group 1: Current Account - In Q4 2025, China's current account surplus was 17,137 billion yuan, driven by a goods trade surplus of 21,043 billion yuan, a services trade deficit of 2,845 billion yuan, a primary income deficit of 1,552 billion yuan, and a secondary income surplus of 491 billion yuan [1] - For the entire year of 2025, the current account surplus reached 52,427 billion yuan [1] - In USD terms, the current account surplus for Q4 2025 was 2,421 million USD, with a goods trade surplus of 2,973 million USD and a services trade deficit of 402 million USD [1] Group 2: Capital and Financial Account - The capital and financial account recorded a deficit of 17,137 billion yuan in Q4 2025, despite a net inflow of foreign direct investment into China [1] - For the full year of 2025, the capital and financial account showed a deficit of 54,217 billion yuan [1] - In USD terms, the capital and financial account deficit for Q4 2025 was 2,421 million USD [1] Group 3: SDR Valuation - In SDR terms, the current account surplus for Q4 2025 was 1,776 billion SDR, with a goods trade surplus of 2,181 billion SDR and a services trade deficit of 295 billion SDR [2] - The total current account surplus for the year 2025 was 5,437 billion SDR [2] - The capital and financial account deficit in SDR for the entire year was 5,609 billion SDR [2]