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China 2013 trade passes $4 trillion: govt

BEIJING - China's annual trade in goods passed the $4 trillion mark for the first time in 2013, official data showed Friday, confirming its position as the globe's biggest trading nation.

Exports from the world’s number two economy rose 7.9 per cent to $2.21 trillion, while imports increased 7.3 per cent to $1.95 trillion, the General Administration of Customs announced.

The trade surplus stood at $259.75 billion, up 12.8 per cent from 2012.

Total trade came to $4.16 trillion, an increase of 7.6 per cent, just below the government’s eight per cent target.

Nonetheless it was a record high and effectively confirmed a historic geo-economic shift, making China the world’s biggest trader of physical goods, not including services.

Reports last February said the United States’ total trade in goods was lower than China’s in 2012, but Customs said due to differences in calculation methods the change happened for the first time in 2013 -- although full US data for the year has yet to be released.

AFP


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