With nearly 10 percent of the world's exports in 2009, China has overtaken Germany as the world's largest exporter, according to a Ministry of Commerce report released on March 29.
The report quoted data from the World Trade Organization (WTO) that in 2009 China's imports ranked second in the world, accounting for 8% of world imports, second only to the United States which accounts for 13%.
WTO also made forecast that this year's global trade volume was expected to grow 9.5 percent. This is a reversal of the biggest decline since World War II seen last year and indicates the global economy is moving closer to recovery.
In the third quarter of last year, international organizations including the WTO predicted that China would become the world's largest exporter and it is now a fact. "We won the reputation as the world's largest exporter, and we need to prevent further pressure of yuan revaluation from Europe and the United States and other countries," some experts advise.
In fact, according to the statistical indicators of late last year, China's economic performance is eye-catching, not only in foreign trade. China's domestic car sales in 2009 also exceeded those of the United States, ranking first worldwide. There is even expectation that in 2010 China's gross domestic product (GDP) will replace Japan to rank second in the world.
Yao Jian, spokesman for the Ministry of Commerce says that the United States, Germany and other big traders have completed the restructuring of their economies, moving from manufacturing to service industries. We can not simply look at the ranking issue, he said. China's export structure will undoubtedly need to adjust and upgrade.
