China’s current account surplus surged to a record $165.4 billion in the first quarter of 2025, revised marginally lower from the initial estimate of $165.6, but more than three times higher than the $47.2 billion from the corresponding period of the previous year.
The surge reflected the rise in exports as slowing domestic demand and increasing domestic capacity drove firms to increase foreign sales to meet their targets.
The goods surplus widened to $237.5 billion from $125.1 billion last year.
Meanwhile, the services deficit narrowed slightly to $59.3 billion from $61.3 billion, and the primary income deficit decreased to $15.5 billion from $20.1 billion.
The secondary income surplus remained relatively stable at $2.8 billion, compared with $.5 billion a year earlier.
