Monday, December 19, 2005

China is World's Largest Exporter of IT Goods

China for the first time has surpassed America to export the most technology wares around the world, according to new figures from the Organisation for Economic Co-operation and Development. The crossover took place last year, when China exported $180 billion of computers, mobile phones and other digital stuff, exceeding America's international sales of $149 billion. A year earlier, in 2003, China's technology exports had overtaken those of both the European Union and Japan.

Given China's importance as a centre of low-cost manufacturing, its rise as an industrial power in technology goods is hardly surprising. What is startling is the speed of its ascent. From $36 billion in 1996, its world trade in tech goods—both imports and exports—has grown as much as 32% a year, to reach $329 billion in 2004.
Don't know how much to read into that, but it seems like a significant shift as economic power starts its migration over the Pacific.


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