Despite an exports slump which has forced it to look inwards, China is now the world’s biggest goods trading nation after overtaking the US.
China’s combined imports and exports reached $3.87 trillion in 2012, zooming past America’s $3.82 trillion in goods. This is the second major milestone for China after it pipped Japan in 2011 to emerge the second largest economy. However, the American economy is twice the size of China’s. The US economy is worth $15 trillion as compared to China’s $7.3 trillion.
China has been the world’s top exporter since 2009, while the US remained the world’s biggest importer in 2012.