China overtook Germany last year to become the world's leading exporter as German trade suffered its sharpest slump since 1950, figures from Germany's national statistics office show today.
'According to information from the Chinese Ministry of Commerce, Chinese exports amounted to $1,201.7 billion, while German exports totalled $1,121.3 billion last year', the Destatis office said.
The total value of 2009 German exports came to €803.2 billion, a drop of 18.4%, while imports fell by 17.2% to €667.1 billion compared with 2008, the Destatis office said.
'This was the highest decline recorded in foreign trade in relation to both imports and exports since 1950,' the statement said.
Germany had been the global export champion since 2003, when it wrested the crown from the US.
Europe's largest economy also reported, however, that exports gained 3% in December from the previous month, the fourth monthly rise in a row and a positive sign for the future, according to economists.
Exports were 3.4% higher than in December 2008 - the first year-on-year gain since the global economic crisis deepened in October 2008 and a key indication that a recovery is underway.
In the end, Berlin posted a trade surplus of €136.1 billion for 2009, though that was down from the €178.3 billion recorded in 2008. The economy shrank by 5% last year, Germany's worst recession since World War II, but as consumption and exports slowly recover, the government has forecast growth of 1.4% this year.
Germany benefits in particular from EU trade, which accounted for 62.7% of its exports last year.
