China The Worlds Leading Exporter

Dont be surprised if most of the imported items you see around are labeled Made in China.

2009 proved to be a great year for China as it became the official leading exporter in the world, dethroning Germany, which has held the top spot since 2003. Reports stated that in December of last year, Chinese exports were significantly better than December of 2008. Also in 2009, the largest country in East Asia was recognized as the largest producer of steel and exporter of automobiles, contributing to the more than $1.2 trillion in its total exports for the year. Meanwhile, Germanys 2009 exports amounted to $1.17 trillion.

As 2010 began, China showed no signs of slowing down in dominating the global trade. Last February, Chinese exports rose to an impressive 46% compared with a year ago. This is quite a feat since economists were expecting the increase to be around 30% to 40%.

Milestones

Because of Chinas continuing economic progress, the country is expected to achieve milestones for the months to come.

"The next big news will be when China surpasses Japan to become the world's second-biggest economy," according to economic research firm Managing Director Arthur Kroeber in a report by the Washington Post.

Just recently, China is reported to have the largest amounts of reserves in the world. In a report by Telegraph.co.uk, figures from the central bank revealed that Chinas foreign exchange reserves have increased to a new high of $2.447 trillion last March.

According to Asian Development Bank economist Zhuang Jian in a report from www1.voanews.com, "right economic policies and measures" were done in managing the countrys exports.

Chinas top exports include electrical machinery equipment, power generation equipment, apparel, iron and steel and vehicles while its top trading partner is the United States.

by: Betty Payne

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