China Set To Become World's Champion Exporter In 2008

Feb. 5, 2007
Estimates are for $1.4 trillion in exports by 2008.

China will wrest the "world's champion exporter" title from Germany as early as 2008, the federal foreign trade body BFAI predicted on Feb. 5. Already this year, China will overtake the U.S. as the world's number two exporter and fight neck-and-neck with Germany for the number one position, BFAI director Gerd Herx said.

However, Germany will just succeed in holding onto the title for the fifth year in a row in 2007.

But with an estimated $1.4 trillion (1.1 trillion euros) in exports in 2008, China will leapfrog Germany in 2008, Herx said.

China's increasing success as an exporter rests on its electronic goods, where the country is already the number one with total exports of $300 billion, ahead of the U.S. and South Korea, BFAI estimated. Its second-biggest category of exports is clothing and textiles.

Germany's export strength lies in engineering and technological goods.

Copyright Agence France-Presse, 2007

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