China overtakes Japan as world no.2 manufacturer

China has overtaken Japan to become the world's second largest industrial manufacturer, a new report by the United Nations Industrial Development Organization (UNIDO) says.

According to UNIDO estimates, China's share of the global total of manufacturing value, known as MVA, has reached 15.6 percent in 2009, slightly larger than Japan's share of 15.4 percent, while the USA maintains its first rank with 19 percent.

The three countries together produce half of the world's manufacturing output.

The new report, released on Thursday, also found that the impact of the recent financial crisis on industrial growth was severe for industrialized countries, but relatively mild for developing nations.

The UNIDO publication presents recent data from national industrial surveys for more than 70 countries in detail.

Source: PressTV.
Link: http://www.presstv.ir/detail.aspx?id=120026§ionid=3510213.