America has finally lost its crown to China as the world’s biggest goods trading nation. China imported and exported goods valued at $4.16 trillion (£2.5 trillion) last year, marking a 7.6pc rise on 2012, according to new figures.
America will not release the equivalent numbers until February but it is highly unlikely to stay ahead of China. During the first 11 months of 2013, it traded $3.57 trillion of goods.
The US remains the biggest overall trading nation in the world, thanks to heavy exports of services, but Friday’s data demonstrate a shift in the balance of economic might between the two superpowers