China Overtook US as No. 1 trading country in 2013

31st January 2014

China surpassed the United States to become the world's biggest trading country last year, measured by the sum of exports and imports of goods, latest official figures from both countries show.

China, the world number 2 economy, has been playing an increasingly crucial role in the global trade arena over recent years.

Data shows that China's trade in goods amounted to around 3.9 trillion U.S. dollars in 2012, while the U.S.' exports and imports of goods last year totalled 3.8 trillion U.S. dollars. This is the first time that China overtook the U.S. as the world's top trading country.

China's Ministry of Commerce says the rise comes on the back of exporters hurrying their shipments before a waiver of inspection fees expires at the end of February.

Meanwhile, experts predict that the gap between the two will widen over the coming years, as China is strengthening trade links with other Asian and African countries. They add that many European countries are also likely to engage in more individual trade with China.

However, some analysts are pouring cold water on the figures saying that if services trade figures are included, the U.S. does more trade than China.

China has been the world's top exporter since 2009, while the U.S. remained the world's biggest importer in 2012.

The U.S. last week released its 2012 international trade figures, showing that while the overall trade deficit shrank to around 540 billion US dollars, it grew with China during the past year.