China's General Administration of Custom said the country's foreign trade for all of 2010 totaled $2.97 trillion, up 34.7 percent from 2009, Xinhua reported.
Exports rose 31.3 percent to $1.58 trillion of exports, while imports jumped 38.7 percent during the year.
"China's foreign trade is, in general, heading towards a balanced structure," the GAC said in a statement on its Web site.
The trade surplus in 2010 accounted for 6.2 percent of all foreign trade, down from 8.9 percent in 2009 and 11.6 percent in 2008, the report said.
Japan's Kyodo News said China's 2010 exports made it the world's largest exporter for the second straight year, ahead of Germany.
Foreign trade in December totaled $295.2 billion, up 21.4 percent from the same month of the previous year. But December trade surplus was $13.1 billion, against economists' forecast of $22.9 billion, the Financial Times reported.