China Overtakes Germany As Biggest Exporter

China overtook Germany as the world's biggest exporter after exports rose in December for the first time in 14 months, data showed Sunday, in a new sign of the rapid Chinese rise as a global economic force.

Chinese exports in the last month of 2009 jumped 17.7 percent from a year earlier, the state Xinhua News Agency and government television said. That made total exports for the year just over $1.2 trillion, ahead of the 816 billion euros ($1.17 trillion) forecast last month for Germany by that country's foreign trade organization, BGA.

Economists and Germany's national chamber of commerce said earlier it was likely to lose its longtime crown as top exporter.

China's new status is largely symbolic but reflects the ability of its resilient, low-cost manufacturers to keep selling abroad despite a collapse in global consumer demand due to the financial crisis.

China's politically sensitive trade surplus shrank by 34.2 percent in 2009 to $196.07 billion, Xinhua said. That reflected China's stronger economic growth, driven by a 4 trillion yuan ($586 billion) stimulus, and demand for imported raw materials and consumer goods at a time when demand in the United States and other foreign markets is weaker.

The December export rebound was an "important turning point," a customs agency economist, Huang Guohua, said on the state broadcaster CCTV.

"We can say that China's export enterprises have completely emerged from their all-time low in exports," Huang said.

Even though China overtook Germany in 2009 as top exporter, CCTV said its total 2009 trade fell 13.9 percent from 2008.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by LM Location: usa on Jan 11, 2010 at 06:07 PM
    It was one of the largest bi partisan movements ever in Congress...We were sold out...! And these trde agreements started with the Reagan Administration.When Clinton signed the trade agreements Reagan was quoted more than once as saying this was the "pie in the sky" dream of his that he was glad to have lived long enough to see.Our politicians need to take care of this country and it's citizens. American business men have become filthy rich off these trade arrangements.
  • by chris on Jan 10, 2010 at 12:35 PM
    Yeah well I guess you forgot about the billions of dollars worth of bailouts that Bush just handed out before he left office.
  • by cs Location: nags head on Jan 10, 2010 at 10:42 AM
    Correct me if I am wrong, but didn't democratic president Bill Clinton sign this into law?
  • by Wolfgang Location: Chocowinity,NC on Jan 10, 2010 at 08:19 AM
    China overtook Germany as the world's biggest exporter. Yep in the form of $$$$$ cash loans to Obama to destroy America. If China called in Obama's note loans today with the interest rate. America would be for sale in a bankrupcy court. Oh I forgot again it is all Ex Pres. Bushes fault sorry.
  • by LW on Jan 10, 2010 at 06:03 AM
    Yeah, that NAFTA, CAFTA, GATT, and letting China into the WTO sure was and great Idea. Most of our manufacturing has gone away. All these polticians that voted for this should be proud that they have ruin this country. They should be charged with TREASON and justice should be served. Ross Perot warned them free world thinkers and ride around and see all the plants closed.Fair trade,not free trade.

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 81087687 -
Gray Television, Inc.