Customs officials said China had come through a weak trading period. China's exports rose 17.7% in December, state media has reported, suggesting the country has overtaken Germany as the world's largest exporter.
The rise, compared to a year earlier, breaks a 13-month decline in trade as a result of the global downturn. Xinhua said total exports for 2009 were $1.2tn (£7.5tn), but that total foreign trade over the year was down 13.9%. Correspondents say the figures will lead to new demands from China's competitors that it devalue the yuan.
Last year saw a continuing decrease in China's trade as the global economic downturn led to a fall in demand for its products.
But in the last few weeks of the year, there was a far greater rise than forecasters had expected, with foreign exports reaching $130.7bn, up 17.7% on the previous December.
China's General Administration of Customs (GAC) said exports overall in the year were $1.2tn, down 16% from in 2008, while imports were 11.2% down from a year earlier at $1.01tn.
The politically sensitive total trade surplus was down 34.2% to $196.1bn, a fall of almost a third.
The figures suggests China will surpass Germany's export total for the whole of 2009, although this will not be confirmed until Germany's full-year data is published in February.
China 'overtakes Germany as world's largest exporter'
India's Export Performance
Indian Exporters Witness Worst of Times in 2009
NEW DELHI - India’s exports were swept into rough seas in 2009 owing to a sharp contraction in demand from Western consumers, whose household budget cuts to survive recession killed millions of jobs and eroded growth in emerging economies.
Exporters bled all through the year, with their woes peaking in May when consignments dropped 40 per cent, the most in 13 years, but hope appeared by way of 18.3 per cent growth in exports in November.
The year also saw unveiling of five-year Foreign Trade Policy that sought to incentivise exports to new markets - ones that haven’t been hit as hard by recession as the West.
Exporters have been heavily dependent on the traditional markets of the US and Europe -almost contributing one-third to their kitty. India’s exports in the last fiscal of 2008-09 were $185 billion, according to revised official data.
Engineering goods, textiles and textiles products, gems and jewelery and petroleum products fill the major portion of the country’s export basket and most of it is destined to the western markets of the US and Europe. All these sectors which account significantly for 80 million employment in the export units were hit badly. However, the pace of decline in some of the segments seemed arrested since August after peaking in May. Their troubles started since October 2008.
According to a recent presentation by Commerce Secretary Rahul Khullar, the decline in exports has “mellowed down”. Commerce and Industry Minister Anand Sharma is hopeful of better future for the segment. Allaying concerns of law-makers, Sharma said he expects the situation to improve in the next few months. For the fiscal 2010-11, he would bet on 15 per cent growth. Joshi of IIFT, said going forward by June, 2010, “situation will be somewhat optimistic”.
Source : indiajournal.com
Indian Exporters Witness Worst of Times in 2009
Comments: The commerce and Industry Ministry should be wound up for its very poor performance and replaced by the Chinese Model if we intend to compete with China in the World Market.
