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Japan's exports contracted by 0.5 percent, a sharp turnaround from its 27.5 percent rise in exports the year before, which had made up for the sharp 24.9 percent decline in 2009. China, the world's biggest exporter, saw its growth in exports slow to 9.3 percent in 2011 after a surge of 28.4 percent the year before. Measured in dollar terms, the total value of merchandise traded in 2011 was $18.2 trillion, a jump of 19 percent and an all-time global record driven by rising prices for fuels and other commodities. The WTO, however, bases it forecast for growth rates on the volume of merchandise, since prices are difficult to predict. The 2010 rate of 13.8 percent represented a slight downward revision to last year's reported figure of 14.5 percent
-- the biggest rise recorded since 1950 -- based on more recent and complete data showing how economies rebounded from the global downturn.
[Associated
Press;
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