China overtakes Germany as world's largest exporter

China's exports rose 17.7 percent in December, state media has reported, suggesting the country has overtaken Germany as the world's largest exporter.

Izvor: BBC

Sunday, 10.01.2010.

15:01

Default images

China's exports rose 17.7 percent in December, state media has reported, suggesting the country has overtaken Germany as the world's largest exporter. The rise, compared to a year earlier, breaks a 13-month decline in trade as a result of the global downturn. China overtakes Germany as world's largest exporter Xinhua said total exports for 2009 were USD 1.2tn, but total foreign trade over the year was down 13.9 percent. Correspondents say the figures will lead to new demands from China's competitors that it devalue the yuan. Last year saw a continuing decrease in China's trade as the global economic downturn led to a fall in demand for its products. But in the last few weeks of the year, there was a far greater rise than forecasters had expected, with foreign exports reaching USD 130.7bn, up 17.7 percent on the previous December. China's General Administration of Customs (GAC) said exports overall in the year were USD 1.2tn, down 16 percent from 2008, while imports were 11.2 percent down from a year earlier at USD 1.01tn. The politically sensitive total trade surplus was down 34.2 percent to USD 196.1bn, a fall of almost a third. The figures suggests China will surpass Germany's export total for the whole of 2009, although this will not be confirmed until Germany's full-year data is published in February.

China overtakes Germany as world's largest exporter

Xinhua said total exports for 2009 were USD 1.2tn, but total foreign trade over the year was down 13.9 percent.

Correspondents say the figures will lead to new demands from China's competitors that it devalue the yuan.

Last year saw a continuing decrease in China's trade as the global economic downturn led to a fall in demand for its products.

But in the last few weeks of the year, there was a far greater rise than forecasters had expected, with foreign exports reaching USD 130.7bn, up 17.7 percent on the previous December.

China's General Administration of Customs (GAC) said exports overall in the year were USD 1.2tn, down 16 percent from 2008, while imports were 11.2 percent down from a year earlier at USD 1.01tn.

The politically sensitive total trade surplus was down 34.2 percent to USD 196.1bn, a fall of almost a third.

The figures suggests China will surpass Germany's export total for the whole of 2009, although this will not be confirmed until Germany's full-year data is published in February.

Komentari 3

Pogledaj komentare

3 Komentari

Možda vas zanima

Podeli: