BEIJING: The Chinese Commerce Ministry today contradicted reports that China has overtaken the US to emerge as the world's biggest trading country.
China's combined export and import volume in 2012 still ranked behind that of the US when using the same method to measure, the Ministry said today.
The Ministry expects the country's total international goods trading to be USD 15.64 billion less than that of the US according to the measurement adopted by the World Trade Organization (WTO), state run Xinhua news agency reported.
The announcement is in response to a previous report by the state run CCTV that China, with its foreign trade amounting to USD 3.867 trillion in 2012, has overtaken the US as the world's biggest goods trading nation.
The US Commerce Department has released two sets of figures for its international goods trading USD 3.82 trillion (based on international balance of payments) and USD 3.882 trillion (based on the measurement which is similar to the WTO's measurement), an MOC official said.
The WTO usually adopted the latter figure in its annual international trading report that is due to be released late February or early March, the official added.
China's export and import volume increased 6.2 per cent year on year to USD 3.867 trillion in 2012, according to the data issued last month by the General Administration of Customs.
This was higher than the USD 3.82 trillion in goods registered by the US Commerce Department.
indiatimes.com
China's combined export and import volume in 2012 still ranked behind that of the US when using the same method to measure, the Ministry said today.
The Ministry expects the country's total international goods trading to be USD 15.64 billion less than that of the US according to the measurement adopted by the World Trade Organization (WTO), state run Xinhua news agency reported.
The announcement is in response to a previous report by the state run CCTV that China, with its foreign trade amounting to USD 3.867 trillion in 2012, has overtaken the US as the world's biggest goods trading nation.
The US Commerce Department has released two sets of figures for its international goods trading USD 3.82 trillion (based on international balance of payments) and USD 3.882 trillion (based on the measurement which is similar to the WTO's measurement), an MOC official said.
The WTO usually adopted the latter figure in its annual international trading report that is due to be released late February or early March, the official added.
China's export and import volume increased 6.2 per cent year on year to USD 3.867 trillion in 2012, according to the data issued last month by the General Administration of Customs.
This was higher than the USD 3.82 trillion in goods registered by the US Commerce Department.
indiatimes.com
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