Economic Trend News
- China's GDP might overtake Germany this year
Date: 20-Jul-2007 Sources: (People's Daily)
China's Gross Domestic Product (GDP) might overtake Germany's this year, leaping to world third and only next to the United States and Japan, China Securities Journal quoted analysts as saying.
According to preliminarily verified statistics released last week by the State Statistics Bureau, China's GDP in 2006 hit 21.087 trillion yuan (about 2.70 trillion US dollars), only a step away from Germany's 2.30 trillion euros (about 2.86 trillion US dollars) that year.
The Bureau will publish macro-economic statistics of the first half of this year on July 19. China's GDP growth rate might stand between 11.1 and 11.5 percent, experts say, and that of Germany might be 2.8 percent upon optimistic estimations.
If the estimated growth rates continue throughout the year, China's GDP in 2007 will hit 23.428 trillion yuan at least, while Germany's 2.364 trillion euros at most. The German figure, if converted to RMB on one euro for 10.4198 yuan, would be 1.2 trillion yuan more than China's. However, it is still highly possible that China's GDP this year might overtake that of Germany considering the fact that the RMB devaluation against euro in the first half is but temporary.
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