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China overtakes Germany as top world exporter

AFP 01/08/2010 01:34
China overtakes Germany as top world exporter - Business - China - Germany - export - commerce


China and its population of 1.3 billion has overtaken Germany, population 82 million, as the world's top exporter, trade figures from the German national statistics office showed on Friday.



From January to November, Chinese exports were worth 1.07 trillion dollars, while German data showed that exports from Europe's biggest economy amounted to 734.6 billion euros, or 1.05 trillion dollars.

The widely-expected crowning of a new export champion should be confirmed when Germany releases full-year 2009 trade figures on February 9.

Economic growth in both countries depend on exports, which critics claim contributes to overall global imbalances, urging Germans to consume more and Chinese authorities to let the yuan float freely against the dollar.

In November, the German trade surplus climbed to 17.2 billion euros, seasonally corrected figures showed, from 13.6 billion in October largely thanks to strong Asian demand.

German imports fell by 5.9 percent to 53.4 billion euros, in part owing to fewer purchases of foreign autos as a car-scrapping premium expired, while exports gained 1.6 percent to 70.6 billion euros.


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