In a historic moment in the history of world trade, the last month of the decade saw China displace Germany to become the world's top exporter. Exports for December 2009 rose 17% to reach $130.7 billion, and took the total exports for the year to $1.2 trillion, compared to Germany's forecasted $1.17 trillion (816 bn euros).
Though China’s exports fell by around 17% in 2009 as a whole, other countries’ slumped by even more. Its share of world exports have more than tripled to almost 10% from just 3% in 1999. Chinese exports form 19% of US imports and China accounts for almost half of US trade deficit, up from less than athird in 2008.