 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
. |
China to top Germany as 2009 export champion: German exporters
Berlin (AFP) Aug 18, 2009 Germany is set to lose its unofficial title of world's top exporter this year to China as the recession hits demand for its cars, machinery and chemicals, Germany's leading export group said on Tuesday. Although it is hard to measure the relative exports of the two countries as they deal in different currencies, the DIHK export association said a collapse in demand for goods "Made in Germany" could see China taking number one spot. "A strong recovery in the economy of the United States, the main market for Chinese exports, suggests that China will be exporting world champion in 2009," the DIHK said as it published a survey of export trends. German exports, the backbone of the economy, are seen slumping by 17 percent this year to 815 billion euros (1.16 trillion dollars), before recovering to register growth of four percent in 2010, the association said. "Global demand for high-worth and high-priced products made in Germany has shrunk sharply during the crisis," it added. "Germany's trading partners are going more for cheaper products right now." The slump in demand for German goods has pushed Europe's biggest economy into its worst recession in decades, with gross domestic output (GDP) forecast to contract by around six percent in 2009. Last Thursday, however, data showed GDP growing 0.3 percent in the second quarter, the first expansion since the first three months of 2008. Share This Article With Planet Earth
Related Links Global Trade News
Australia says snubbed by 'unhappy' China over Uighur leaderSydney (AFP) Aug 18, 2009 Australia Tuesday said a "most unhappy" China had axed a senior minister's visit in retaliation for letting exiled Uighur leader Rebiya Kadeer into the country, dealing another blow to troubled ties. Foreign Minister Stephen Smith said China's Vice Foreign Minister He Yafei had cancelled a trip to a regional forum this month in a diplomatic snub, adding that Australia "very much regrets" the ... read more |
. |
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook