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China to become world's leading exporter
Wednesday, 05 August 2009 00:00

China is expected to overtake Germany as the world’s top goods exporter by value this year, according to the World Trade Organization (WTO).

WTO figures show that China’s goods exports totaled US$1.43trn last year, slightly below Germany’s $1.46trn.

The organization also predicted that global trade would plunge by 10% this year, the largest decline in six decades; although the rate of decline was now easing and Asian countries were leading a recovery in the global trade.

China, which achieved a GDP growth of nearly 8% in the second quarter, remains the top destination for foreign direct investment, followed by the US and the remaining three Bric countries—Brazil, Russia, India—according to a survey by the US Conference on trade and investment.

International Freighting Weekly. 8/5/2009