China's combined export and import volume in 2012 still ranked behind that of the United States when using the same measurement standards, the Ministry of Commerce (MOFCOM) said on February 13.
The ministry expects the country's total international trade in goods to be $15.64 billion less than that of the United States according to the measurement adopted by the World Trade Organization (WTO).
The announcement comes in response to a previous report that China, with its foreign trade amounting to $3.867 trillion in 2012, has overtaken the United States as the world's biggest goods trading nation.
The U.S. Commerce Department released two sets of figures for its international goods trading—$3.82 trillion (based on international balance of payments) and $3.882 trillion (based on the measurement that is similar to the WTO's measurement), said a MOFCOM official.
The WTO typically adopted the latter figure in its annual international trading report that is due to be released in late February or early March.
China's export and import volume increased 6.2 percent year on year to $3.867 trillion in 2012, according to the data issued last month by the General Administration of Customs. |