China Leads World in Top Global Selling Products

China led the world in global top-selling products with 1,210 items in 2008, according to a Korea International Trade Association analysis of the “Personal Computer-Trade Analysis System” report compiled by the United Nations and reported by JoongAng Daily. That figure was up from 830 in 2004, when the prior survey was conducted.

Germany was second with 860 products, followed by the U.S. with 587, Italy with 288 and Japan with 213. S. Korea ranked 19th with 52, a decline from 61 products in 2004.

In the closely-watched hi-tech category the U.S. led with 88 items, followed by China with 81, Germany with 78 and Japan with 32. China’s top ranking in the number of top-selling products was based primarily on light-industry and low-tech exports. Its push in the areas of heavy industry and chemical products should continue to increase its global export lead, predicted industry analysts.

Despite its status as the global leader in LCDs, memory chips and mobile phones, S. Korea was number one in only 1 item in the hi-tech category: filters for lenses, prisms and reflectors. That was down from four items in 2004, including radio and TV transmitters and magnetrons, the core component of microwave ovens.

However, S. Korea’s first-place rankings were for relatively high-volume value-added items like storage battery components, auto parts and musical instrument components. It lost the top spot in some lower-value added products like fiber and frozen tuna. Products for which S. Korea lost its top ranking were primarily from the textile and light industry sectors in which China has become dominant.