China top exporter

       China's goods exports edged ahead those of the world's largest exporter, Germany, for the first time ever during the first half of 2009, according to World Trade Organisation (WTO) data given on Tuesday.
       Chinese goods exports reached $521.7 billion over the first six months of the year, while Germany's reached $521.6 billion.
       "It is an indication that the two countries are very very close," a WTO economist told AFP, confirming a report in the Financial Times .But he said it was too soon to judge if by the end of the year China will have overtaken Germany as the world's largest exporter of goods over the whole of 2009,and declined to make a prediction.
       "It will depend on a number of parameters such as the exchange rate as well as a recovery in certain regions," he added.
       Exports from both countries faltered for several months but have shown hints of a recovery recently.
       Germany is the biggest exporter of goods and services but has been closely tailed in recent years by China, which has been gaining ground with the explosive growth of the Chinese economy.
       In 2007, Germany exported $1.32 trillion of goods over the full year while China's exports reached $1.22 billion,according to WTO data.
       Chinese exports grew by an average of 25% a year between 2000 and 2007 while German exports grew at a slower pace,13% per annum.
       However, Germany's $210.8 billion in services exports in 2007 clearly distanced the $121.6 billion recorded by China.