Germany is set to lose its unofficial title of world's top exporter this year to China as the recession hits demand for its cars, machinery and chemicals, Germany's leading export group said on Tuesday.
Although it is hard to measure the relative exports of the two countries as they deal in different currencies, the DIHK export association said a collapse in demand for goods "Made in Germany" could see China taking number one spot.
"A strong recovery in the economy of the United States, the main market for Chinese exports, suggests that China will be exporting world champion in 2009," the DIHK said as it published a survey of export trends.
German exports, the backbone of the economy, are seen slumping by 17 percent this year to 815 billion euros (1.16 trillion dollars), before recovering to register growth of four percent in 2010, the association said.
"Global demand for high-worth and high-priced products made in Germany has shrunk sharply during the crisis," it added. "Germany's trading partners are going more for cheaper products right now."
The slump in demand for German goods has pushed Europe's biggest economy into its worst recession in decades, with gross domestic output (GDP) forecast to contract by around six percent in 2009.
Last Thursday, however, data showed GDP growing 0.3 percent in the second quarter, the first expansion since the first three months of 2008.
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