China top global exporter in 2009

Discussion in 'China' started by bhramos, Jan 8, 2010.

  1. bhramos

    bhramos Elite Member Elite Member

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    China top global exporter in 2009

    China has surpassed Germany to become the world's largest exporting country in 2009, according to China's Ministry of Commerce, a national daily reported Friday.
    According to China Daily, Chinese exports from China totaled 957 billion yuan ($140 billion) from January to October last year, while Germany lagged behind with 917 billion yuan ($134 billion).
    Trading in the last two months of the year is not expected to make a difference, according to a Geneva-based global trade service company, cited by the Wall Street Journal.
    "Germany's export was reportedly affected by the global financial crisis and recovered slowly," the paper wrote.
    The Federation of German Industries (BDI) predicted its export will increase 4% this year and needs another four years to fully recover.

    China top global exporter in 2009 | Top Russian news and analysis online | 'RIA Novosti' newswire
     
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  3. badguy2000

    badguy2000 Respected Member Senior Member

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    well, China has a population of 1.3 trillion while German has a population of 0.08 trillion...so, it is not a big deal
     
  4. zraver

    zraver Defence Professionals Defence Professionals

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    Uhmm....

    US exports for October 2009 alone were $136.7 billion.

    Foreign Trade: Data

    They probably meant per month, but even then China suffered a 25% drop for the first 2 quarters 70x6 420 billion + 1 quarter at 140 billion 420+ 420 billion= 840 billion.

    Germany and the US suffered much smaller declines, US exports in October are only 5 billion off the record high in 2008. Figure 130 billion a month for the first 3 quarters = around 1.17 Trillion for the US and Germany. China cooks its books as a link I provided in another thread shows.
     
  5. Rage

    Rage DFI TEAM Stars and Ambassadors

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    Impressive! I never knew China had a population of 1.3 trillion.


    This was expected for some time now. China is the world's largest sweatshop/factory after all. Articles as early as the 1990's predicted China would outpace the US to become the world's largest exporter by 2005. Evidently, that has materialised in 2009.



    The figures in the original article are obviously wrong. Figures from the National Statistics Office, Germany and the National Statistics Bureau, China indicate that chinese exports totalled $1.07 trillion in the 11-month period from Jan-Nov. 2009 edging past German exports of $1.05 trillion in the same time period.

    An important qualification however: these statistics include trade only in goods, not in services, ergo merchandise exports only. Since the United States and Germany are largely tertiary-sector economies- with industry accounting for 19.2% and 30.1% of their GDP's- in comparison to the 48.6% secondary-sector composition for China, the result is not indicative of a usurpment in goods and services export.
     
  6. badguy2000

    badguy2000 Respected Member Senior Member

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    frankly speaking, tertiary sectors can not create real material wealth. it is just a way of wealth redistribution.
    During wartime, bars,lawyers ,restaurants and rents can provide you weapons;
    During famine, bars ,lawyers ,restaurants and rents can not provide you foods;
     
  7. Rage

    Rage DFI TEAM Stars and Ambassadors

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    You have a poor understanding of economics !

    Don't even try, You're off your game son.

    Refer to the last post I made to you debunking those frivolous claims.
     
  8. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    China's imports soaring 56% in December
    08:36, January 11, 2010

    The country's overall trade in December, according to figures released Sunday by China's Customs Office, showed a stunning 17.7 percent year-on-year jump in exports. But imports jumped by an even bigger 55.9 percent, pushing China's overall trade surplus in the month down by 4 percent from November. China's trade surplus shrank by 34.2 percent in 2009 to US$196 billion, the customs agency said.

    China's imports soaring 56% in December - People's Daily Online

    56% increase in imports... kind of dwarfs that little 17% imports
     

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