August 26, 2009

China surpasses Germany in exports

China just edged past Germany as the world's largest exporter in the first half of this year, World Trade Organization figures showed.

The WTO report said China exported $521.7 billion worth of goods from January to June, while Germany's share totaled $521.6 billion during the same period, the China Daily reported. Until now, Germany had held the top spot since 2003.

Experts told China Daily China's rise, however, did not mean its goods would be of as high quality as those from Germany. They said China should take steps to improving competitiveness through more value-added products.

The Organization for Economic Cooperation and Development has said the ratio of China's foreign trade to global trade will increase from the current 8.7 percent to 10 percent when the global economy recovers, the China Daily report said.