Market Highlight 09.12.2025

China’s goods trade surplus surpassed USD 1 trillion for the first time this year, marking a milestone that underscores the country’s manufacturing prowess across sectors ranging from high-end electric vehicles to inexpensive T-shirts. In the first 11 months of 2025, China’s exports rose 5,4% year-on-year to USD 3,4 trillion, while imports fell 0,6% over the same period to USD 2,3 trillion. China has invested heavily in building large-scale production and export capacity, positioning itself as an indispensable link in global supply chains spanning technology, transportation, healthcare and consumer goods. In recent years, its leading companies have consolidated their dominance in solar panels, electric vehicles and key semiconductor components that power everyday household devices.

China’s total exports have continued to grow robustly despite the United States - its largest trading partner - raising import tariffs to levels at times exceeding 100%. Although average U.S tariff rates on Chinese imports have since moderated, they remain elevated at around 37%. Rather than curtailing exports, China has redirected shipments to other markets. To date, Chinese exports to Africa, Southeast Asia and Latin America have increased by 26%, 14% and 7,1%, respectively. In value terms, China accounts for roughly 15% of global merchandise exports; by volume, it is estimated to represent about 37% of worldwide containerized export shipments.

The interbank USD/VND exchange rate traded largely around 26.360 on Monday. A downward trend is expected to dominate this week as the Federal Reserve begins its December policy meeting later tonight.

Please contact the nearest Asia Commercial Joint Stock Bank's branch to receive information and consultancy if you are in need of making any foreign exchange and derivatives transactions.

Asia Commercial Joint Stock Bank assumes no responsibility or liability for any purpose of reference or using the information provided by this newsletter.

Directly contact us to receive market news and consultancy on foreign exchange products and derivatives:

- Financial Markets Division – Email: ktttc@acb.com.vn ; or

- Mr. Khanh Hoang (Financial Markets Senior Analyst) – Email: hoangnk@acb.com.vn