China has emerged as the largest exporting country and its trade surplus has been sharply increasing since the mid-2000s. According to World Banks International Trade Statistics 2010,China,with its merchandise trade at $1.20 trillion (9.6 per cent of world merchandise exports) in 2009 became worlds largest exporter,followed by Germany,US,Japan,Netherlands,France,Italy,Belgium,Korea and UK. Chinas rapid progress is evident from the fact that in 1990,China was the 14th largest exporter with export at $ 62 billion (1.8 per cent of world export).
