China surpasses U.S to become world's largest goods trader

China has reportedly claimed that it may have surpassed the U.S to bag the title of world's top trading nation.

According to last year's trade figures, China's total trade grew at an annual rate of 7.6 percent to 4.16 trillion dollars.

China has announced its new trade status even as the U.S prepares to release its full-year trade figures next month.

The trade figures released by the U.S for the first eleven months of 2013 came around 3.5 trillion dollars, the BBC reported.

Meanwhile, speculations are ripe that Chinese exporters may have provided false estimations to bring in more funds indicating that the country's actual trade rate may vary.

Analysts said that in spite of over-estimated numbers, there could be a gap of 250 billion dollars in the 2013 trade figures of the two countries.

In 2009, China's economy got a face-lift when it went on to become the biggest exporter of goods in the world.

China's exports increased to an annual rate of 7.9 percent in 2013 in the full year and the import rate grew at the rate of 7.3 percent.