China Eclipses U.S. as Biggest Trading Nation Measured in Goods

China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, official figures from both countries show.

U.S. exports and imports of goods last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s trade in goods in 2012 amounted to $3.87 trillion.

China’s growing influence in global commerce threatens to disrupt regional trading blocs as it becomes the most important commercial partner for some countries. Germany may export twice as much to China by the end of the decade as it does to France, estimated Goldman Sachs Group Inc.’s Jim O’Neill.

“For so many countries around the world, China is becoming rapidly the most important bilateral trade partner,” O’Neill, chairman of Goldman Sachs’s asset management division and the economist who bound Brazil to Russia, India and China to form the BRIC investing strategy, said in a telephone interview. “At this kind of pace by the end of the decade many European countries will be doing more individual trade with China than with bilateral partners in Europe.”

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  • Kent2012

    wonder if the chinkees have OSHA and the EPA and mandated health care and the NTSB and the blarney flanky rules for banking. we know they have a communist at the top like we do and they have other communists like eric von holder, minister of justice and gun sales, like we do, they just do not have any blacks in positions of authority and suppression, how racist is that ?????

  • Joe1938

    Regarding “China surpassed the U.S. to become the world’s biggest trading nation last year”; This is a surprise to only the economically and politically ignorant. The UK, Mao, and others were only a glitch in the history of China. The Chinese people are a merchant people and the communist loosened this China Dragon several years ago and they will never be able to capture it again. The magic is yet to come.

  • CSN

    Has anyone ever seen “Mary Shelley’s version of Frankenstein?” The United States has created a Monster through their building up of a Communist Country, which has no moral certitude….now the US is going to be eclipsed by their Monster and he’ll eat us alive.