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China supplants Germany to become world's leading exporter

China became the world’s largest exporter in 2009 after long-time leader Germany saw its exports contract by nearly a fifth, the biggest decline in 60 years, AP reported. The release of trade data by the German government on Tuesday confirmed what was already widely expected. While the global financial crisis sent Germany into a severe recession, China’s economy has proved more resilient. Last month China Customs said total exports for 2009 came to US$1.2 trillion, down 16% year-on-year. German exports, meanwhile, declined by 18.4% to US$1.1 trillion. Nevertheless, Germany stands to benefit from China’s growing presence as an industrial power and a leading consumer of everything from raw materials to finished goods. "The fact that we are passing on the title of world export champion to China doesn’t cause us any worries," said Anton Boerner, the head of Germany’s BGA exporters’ association. "The growth of the Chinese economy will also secure our growth and jobs in Germany for long years."

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