The latest exports figures from the Federal Statistics Office of Germany shows that German exports fell 18.4% in 2009 as a whole. This translates to a dollar equivalent of $1.121 trillion. By contrast, China's exports totaled $1.202 trillion.
China officially is now the world's leading exporter.
Apart from the sheer size of China, it was the global economic downturn that propelled it past Germany as top exporter, as Germany’s trading partners in the United States and the European Union cut back on investments, consumers cut back on spending and banks cut back on lending.
The Federation of German Industries, an influential employers’ group, said Tuesday that “it had only been a question of time” before China would become the world’s No.1 exporter, in part because of the magnitude of the export sector in the Chinese economy.
“In terms of those living and working in China, it is about 15 times more than Germany,” said Werner Schnappauf, director of the federation.
The change is the second time in three years Germany has been overtaken by China.
In 2007, China surpassed Germany to become the world's third-largest economy, just behind No. 2 Japan and the United States, which holds the top spot.
China's growth also benefits other companies and countries, particularly those in Germany, because of its voracious demand for raw materials, consumer goods and more.
