China ‘overtakes’ US as world’s largest goods trader

Beijing – China has claimed that it is ‘very likely’ that it overtook the US as the world’s top trading nation, a title the US has held for decades.

Friday, January 10, 2014

Beijing – China has claimed that it is ‘very likely’ that it overtook the US as the world’s top trading nation, a title the US has held for decades.According to the latest data, China’s total trade grew at an annual rate of 7.6 per cent to $4.16 trillion last year.The US is yet to release its full-year figures, but its trade for the first 11 months of 2013 totalled $3.5 trillion.China became the world’s biggest goods exporter in 2009. Its imports have also risen amid an expansion in its economy."It is very likely that China has overtaken the US to become the world’s largest trading country,” said Zheng Yuesheng, a spokesman for China’s customs administration.The US is scheduled to release its full-year figures next month.