China To Match Germany As World's Third Biggest Economy

October 30, 2007 6:15 a.m. EST

Beijing, China (AHN) - China is expected to match Germany's gross domestic product (GDP) this year, the Chinanews.cn said on Monday. An official of China's National Statistics Bureau predicted that the country's GDP value will surpass $3 trillion to tie Germany's position as the third largest economy in the world.

Li Deshui, the bureau's former director, made the prediction while attending the second China Energy Strategic International Forum at the China University of Petroleum in Beijing.

As of the third quarter of this year, China's GDP is at 2.14 trillion, up 11.5 percent from the same period in 2006. The same GDP growth rate is expected this year.

Since 2003, China posted double-digit GDP growth rates.

According to Dinocrat.com, China's 2006 GDP was $2.8 trillion while Germany had $2.9 trillion. The U.S. remains the world's biggest economy with a GDP of $13.2 trillion last year while Japan ranked second with $4.4 trillion worth of goods and service produced.