China has claimed that it is very likely that it overtook the US as the world's top trading nation, a title the US has held for decades. According to the most recent data, China's total trade grew at an annual rate of 7.6% to $4.16tn last year. The US is yet to release its full-year information, but its trade for the first 11 months of 2013 totalled $3.5tn.
China became the world's largest goods exporter in 2009. Its imports have also risen amid development in its economy. It is very likely that China has overtaken the US to become the world's biggest trading country, said Zhengs Yuesheng, a spokesman for China's customs administration. Mr. Biswas added that the gap among the two countries was likely to become even wider in the present year. For the full year, China's exports rose at an annual rate of 7.9% in 2013, while imports grew 7.3%.