Although exports fell 16% in 2009 on the figures China seems poised to take over from Germany and become the worlds largest exporter. By the end of the year figures had started again on their upward climb.
The General Administration of Customs (GAC) said China’s monthly exports in December 2009 were worth $130.7 billion, up 17.7% from a year earlier. It was the first rise since November 2008. In total, GAC figures showed that China’s exports in 2009 stood at $1.2 trillion U.S. dollars, down 16% from 2008 but already starting to indicate a strong recovery.
Germany, which had been since 2002 holding the title as the world’s largest exporter has not yet announced the figures for 2009. But BGA, the Federation of German Wholesale and Foreign Trade, had forecast that Germany’s exports in 2009 might fall 18% to $1.18 trillion. Whcih would appear to put China ahead in the reace.
However, Zhao Jinping, a researcher with the Development Research Center of the State Council (cabinet), said, "The prospect that China will overtake Germany to become top global exporter only means that China has indeed become a large trading country in terms of exporting scale. But in terms of the structure of exports, technological innovation and industry competitiveness, China is far from being eligible for the title of ‘trade power’."
He said China’s technology-intensive exports fell in the category of processing and assembly. About 83% of its high-tech exports and 75% of electronic exports were made by foreign-funded enterprises.
China.com reported that Zhao said a full recovery of China’s trade might take several years. He said China should promote exports of high value-added products through branding and technological innovation.