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April 15, 2005
The World Trade Organization (WTO) disclosed on April 14 that China has exported more than Japan and become the world's 3rd largest exporter, says a report by Financial Times in Chinese.
The WTO affirmed that the upsurging demand for Chinese electronic products pushed China's overseas sales up by 35 percent.
One-third of Chinese exports are electronic products while electronic products account for one to two thirds of exports of Singapore, ROK, Malaysia and Philippines.
Michael Finger, a senior economist with the WTO, attributed China's 35 percent rise of export value and 20 percent increase in export volume to the 45 percent upturn of its electronic products sales on the international market.
The exports value of textile and clothing jumped 15 percent and 17 percent. Their sales accounted for less than 10 percent in China's export products.
Mr Finger recognized that China is the largest commodities trading nation in Asia and the third largest importer and exporter in the world. He thinks this makes China an important driving force for the growth of global trade.
Demand from China has helped to boost trade in other regions in the world, especially Africa and South America. Chinese investment on natural resources and manufacturing has been expanding rapidly in these areas in recent years.
WTO forecasted that the world's commodities trade for this year, albeit still higher than the average in the past decade, will be as slower to 6.5 percent from 9 percent last year.
WTO thinks the rising oil price and interest rates are at least partly responsible for the slowdown. A likely weakened information and communication industry also underlies the moderation.
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