This ad will auto close in 10 seconds

China's trade still smaller than that of US: China Commerce Min

Last Updated: Wednesday, February 13, 2013 - 22:30

Beijing: The Chinese Commerce Ministry on Wednesday contradicted reports that China has overtaken the US to emerge as the world's biggest trading country.

China's combined export and import volume in 2012 still ranked behind that of the US when using the same method to measure, the Ministry said on Wednesday.

The Ministry expects the country's total international goods trading to be USD 15.64 billion less than that of the US according to the measurement adopted by the World Trade Organization (WTO), state run Xinhua news agency reported.

The announcement is in response to a previous report by the state run CCTV that China, with its foreign trade amounting to USD 3.867 trillion in 2012, has overtaken the US as the world's biggest goods trading nation.

The US Commerce Department has released two sets of figures for its international goods trading USD 3.82 trillion (based on international balance of payments) and USD 3.882 trillion (based on the measurement which is similar to the WTO's measurement), an MOC official said.

The WTO usually adopted the latter figure in its annual international trading report that is due to be released late February or early March, the official added.

China's export and import volume increased 6.2 percent year on year to USD 3.867 trillion in 2012, according to the data issued last month by the General Administration of Customs. This was higher than the USD 3.82 trillion in goods registered by the US Commerce Department.


First Published: Wednesday, February 13, 2013 - 22:30
comments powered by Disqus