Report Card for Trade Surpluses and Deficits by Country

Trade Surpluses and Deficits by Country Conceptual

Trade stats conceptual

According to latest International Trade Centre statistics, 63 among the world’s 230 countries, islands, territories or other geographic entities posted an overall trade surplus for 2018. Those 63 trade partners listed below generated international surpluses via their sales revenues coming in from exports exceeding payments made for import purchases.

On a more upbeat note, 37 of the 63 trading entities generating a positive trade balance during 2018 improved their surpluses from what was posted one year earlier in 2017. The fastest-increasing surpluses year over year belong to Vietnam (up 873.6%), Bouvet Island (up 533.3%), Eritrea (up 226.6%), Ghana (up 218.2%), Australia (up 216.6%), Niue (up 181.7%), Iraq (up 141%), Congo (up 131.2%), Norway (up 114.9%) then Turkmenistan (up 110.9%).

Trade Surpluses by Country

All told, the following 63 trade entities earned a collective trade surplus equal to US$2.030 trillion during 2018.

RankTrade Entity2018 Surplus (US$)2017-8
1.China$359,242,930,000-14.4%
2.Germany$269,977,236,000-3.2%
3.Russia$211,195,782,000+61.3%
4.Saudi Arabia$159,324,375,000+70.7%
5.South Korea$69,996,799,000-26.6%
6.Netherlands$64,170,398,000+14.9%
7.Ireland$60,086,815,000+22%
8.Brazil$58,658,641,000-12.4%
9.United Arab Emirates$55,411,745,000+39.1%
10.Iran$55,381,353,000+38%
11.Qatar$53,911,632,000+51.1%
12.Taiwan$49,321,931,000-15%
13.Iraq$44,150,981,000+141%
14.Italy$44,127,133,000-14.5%
15.Singapore$41,252,322,000-9.4%
16.Kuwait$36,074,790,000+68.4%
17.Norway$35,345,488,000+114.9%
18.Vietnam$32,187,542,000+873.6%
19.Switzerland$31,858,719,000+0.2%
20.Malaysia$29,834,025,000+29.7%
21.Kazakhstan$28,422,697,000+49.6%
22.Australia$26,543,719,000+216.6%
23.Angola$25,636,373,000+32.5%
24.Venezuela$23,737,099,000+10.7%
25.Libya$17,873,627,000+75.7%
26.Czech Republic$17,799,176,000-5.8%
27.Nigeria$16,453,303,000+39.4%
28.Belgium$16,264,603,000-31%
29.Oman$8,695,466,000-1.4%
30.Congo$8,309,467,000+131.2%
31.Azerbaijan$7,999,238,000+22.3%
32.Turkmenistan$7,463,884,000+110.9%
33.Hungary$7,289,000,000-19.9%
34.Papua New Guinea$6,715,832,000+5.2%
35.Denmark$6,334,828,000-32%
36.Trinidad/Tobago$5,715,185,000+55.3%
37.Equatorial Guinea$5,459,886,000+22.6%
38.Ghana$5,219,117,000+218.2%
39.Gabon$4,299,923,000+37.3%
40.Peru$4,078,923,000-5.4%
41.Democr. Rep. Congo$4,074,071,000+30.6%
42.Brunei Darussalam$2,397,118,000-3.6%
43.Slovenia$1,957,605,000-17.1%
44.Guinea$1,805,022,000+0.3%
45.Chile$1,294,391,000-64.1%
46.South Sudan$1,194,086,000+67.5%
47.Mongolia$1,136,970,000-39%
48.South Africa$997,626,000-81%
49.Chad$913,193,000+32.4%
50.Ivory Coast$848,978,000-71.3%
51.Botswana$404,047,000-34.2%
52.Greenland$316,708,000+30.7%
53.Faroe Islands$198,259,000-61.1%
54.Eswatini$190,410,000-1.2%
55.Falkland Is. (Malvinas)$167,900,000+87.5%
56.Eritrea$108,632,000+226.6%
57.Slovakia$108,298,000-90.8%
58.Niue$107,876,000+181.7%
59.Kiribati$34,323,000-19.5%
60.Tokelau$20,483,000-21.4%
61.Serbia/Montenegro$528,000no 2017 data
62.Bouvet Island$19,000+533.3%
63.Br. Antarctic Terr.$6,000+50%

Among the world’s biggest economies, China’s trade surplus shrank by -14.4% from 2017 to 2018 while Germany’s black ink from international trade slipped by -3.2%. In contrast, strong petroleum exporters Russia and Saudi Arabia grew their respective trade surpluses by 61.3% and 70.7% respectively.



 

Trade Deficits by Country

One hundred and sixty-seven trade entities posted deficits for 2018, dwarfing the 63 countries, islands, territories or other geographic that earned surpluses over the same time period. Collectively, the overall trade deficit for these 167 geographies equaled -$2.332 trillion.

Out of the 167 trade entities that registered a deficit in 2018, a majority of 99 expanded their negative trade balances compared to the amount of international red ink for 2017. The fastest-increasing deficits year over year are attributed to Togo (up 963.4%), Liberia (up 664.7%), Guam (up 580.3%), Sweden (up 456.9%), Nauru (up 383.1%) and Saint Lucia (up 272.3%).

RankTrade Entity2018 Deficit (US$)2017-8
1.United States-$946,387,125,000+10.1%
2.India-$184,523,592,000+24.5%
3.United Kingdom-$182,570,912,000-8.4%
4.France-$90,502,100,000+0.8%
5.Hong Kong-$58,221,291,000+47.6%
6.Turkey-$55,123,017,000-28.2%
7.Egypt-$51,608,360,000+27.8%
8.Philippines-$47,550,348,000+43.3%
9.Spain-$43,005,534,000+33.4%
10.Panama-$37,440,481,000+230.2%
11.Pakistan-$36,531,969,000+2.7%
12.Greece-$25,650,927,000+10.8%
13.Morocco-$21,921,110,000+12.6%
14.Portugal-$20,306,570,000+22.1%
15.Romania-$18,220,407,000+24.6%
16.Lebanon-$16,566,108,000+18.2%
17.Israel-$14,677,698,000+84.3%
18.Mexico-$13,736,819,000+25.8%
19.Afghanistan-$13,044,172,000+93.3%
20.Jordan-$12,565,949,000-3%
21.Marshall Islands-$12,373,383,000-20%
22.Bangladesh-$11,879,383,000+14.6%
23.Kenya-$11,326,300,000+3.5%
24.Macao-$11,054,489,000+16.6%
25.Croatia-$10,902,620,000+24.2%
26.Japan-$10,172,797,000-138.8%
27.Nepal-$9,475,010,000+1.9%
28.Ukraine-$9,464,297,000+57.5%
29.Colombia-$9,463,106,000+13.9%
30.Togo-$9,205,429,000+963.4%
31.Gibraltar-$9,201,957,000+10.5%
32.Canada-$9,116,416,000-23.6%
33.Austria-$8,636,930,000+12.1%
34.Indonesia-$8,496,138,000-171.5%
35.Dominican Republic-$8,480,878,000-20.5%
36.Liberia-$8,350,096,000+664.7%
37.Luxembourg-$7,970,453,000+12.1%
38.Sri Lanka-$7,959,169,000-16.9%
39.Bahamas-$7,919,290,000+1.4%
40.Uzbekistan-$7,540,087,000+126.2%
41.Algeria-$7,205,383,000-33.7%
42.Ethiopia-$7,057,861,000-40.3%
43.Serbia-$6,655,825,000+28.3%
44.Yemen-$6,594,878,000+34%
45.El Salvador-$6,292,799,000+30.2%
46.Syrian Arab Republic-$6,038,661,000+13.2%
47.Poland-$5,884,618,000-276.8%
48.Georgia-$5,768,606,000+10.9%
49.Cyprus-$5,747,203,000-3.4%
50.Guatemala-$5,535,123,000-25%
51.Djibouti-$5,375,467,000+16.4%
52.Costa Rica-$5,310,499,000-0.2%
53.Honduras-$4,942,205,000+48.7%
54.Tunisia-$4,863,680,000-24.2%
55.Belarus-$4,741,247,000-5.1%
56.Cambodia-$4,741,164,000+56.6%
57.Tanzania-$4,714,904,000+31.4%
58.Bulgaria-$4,638,281,000+73.4%
59.Benin-$4,628,133,000+98.1%
60.Senegal-$4,448,459,000+19%
61.Bosnia/Herzegovina-$4,445,517,000+9%
62.Cuba-$4,299,782,000-11.4%
63.Paraguay-$4,291,484,000+34.4%
64.Sweden-$4,180,385,000+456.9%
65.Cayman Islands-$3,960,295,000+21.8%
66.Sudan-$3,938,622,000-34.8%
67.New Zealand-$3,897,347,000+87.5%
68.Argentina-$3,882,609,000-54.4%
69.Latvia-$3,681,305,000+28.4%
70.Jamaica-$3,667,895,000-18.6%
71.Uganda-$3,642,103,000+35.2%
72.Malta-$3,314,821,000+0.2%
73.Mauritius-$3,293,891,000+4%
74.Kyrgyzstan-$3,139,239,000+16.7%
75.Lithuania-$3,109,105,000+90.8%
76.Finland-$3,093,871,000+9.7%
77.Albania-$3,065,427,000+2.4%
78.Moldova-$3,057,464,000+27.1%
79.Somalia-$2,830,268,000-3.7%
80.Maldives-$2,779,316,000+28.7%
81.Bahrain-$2,723,912,000+10.7%
82.Myanmar (Burma)-$2,673,848,000-50.3%
83.Montenegro-$2,536,867,000+15.9%
84.Guyana-$2,510,598,000-9,023%
85.Armenia-$2,414,211,000+38.1%
86.Nicaragua-$2,337,092,000-15.9%
87.Zimbabwe-$2,221,653,000+49.9%
88.Curaçao-$2,208,691,000+266.5%
89.North Macedonia-$2,145,340,000+4.7%
90.Iceland-$2,124,557,000+1.7%
91.Tajikistan-$2,070,488,000+15.6%
92.Haiti-$2,062,052,000+4.4%
93.North Korea-$1,994,399,000+35.1%
94.Saint Lucia-$1,943,292,000+272.3%
95.Fiji-$1,714,968,000+17.1%
96.Mozambique-$1,658,251,000+54%
97.Andorra-$1,479,946,000+8.8%
98.French Polynesia-$1,441,074,000+16.1%
99.Ecuador-$1,413,519,000+95.6%
100.British Virgin Islands-$1,388,982,000+116.1%
101.Estonia-$1,363,361,000-30.9%
102.Uruguay-$1,360,500,000+139.3%
103.Cameroon-$1,315,027,000-31.5%
104.Aruba-$1,188,107,000+7.9%
105.US Minor Outlying Is.-$1,162,957,000-10.5%
106.Barbados-$1,142,201,000+2.5%
107.Thailand-$1,113,960,000-110.2%
108.Bermuda-$1,047,097,000-1.8%
109.Bolivia-$1,031,092,000-7.4%
110.Seychelles-$1,030,264,000+35.4%
111.Burkina Faso-$1,014,801,000+11%
112.Mauritania-$999,071,000-32.1%
113.Madagascar-$928,537,000+15%
114.Mali-$874,321,000-64.1%
115.Palestine-$828,541,000-7.8%
116.Namibia-$800,644,000-48.3%
117.Antigua/Barbuda-$787,645,000+38.8%
118.Laos-$740,495,000-46.1%
119.Cabo Verde-$739,334,000-0.6%
120.Belize-$714,436,000+12.4%
121.Gambia-$592,261,000+11.5%
122.Niger-$577,847,000-350.7%
123.Bhutan-$499,547,000+57.7%
124.Malawi-$463,279,000-72.3%
125.Turks/Caicos Islands-$448,518,000+13.1%
126.Rwanda-$443,379,000-36.7%
127.Zambia-$409,574,000-29.9%
128.Timor-Leste-$403,142,000-28.5%
129.Sierra Leone-$354,494,000-63.5%
130.New Caledonia-$351,013,000-32.6%
131.Samoa-$316,783,000+1.6%
132.St Vincent/Grenadines-$309,961,000+7.8%
133.Dominica-$265,571,000-9.1%
134.Lesotho-$255,294,000-81.7%
135.Saint Kitts/Nevis-$248,623,000-9.8%
136.Comoros-$224,682,000-21.5%
137.Burundi-$224,634,000-64.6%
138.Grenada-$211,786,000+3.6%
139.Tonga-$196,109,000+63.1%
140.Guinea-Bissau-$191,585,000-1,651%
141.Bonaire/St Eustatius/Saba-$178,058,000-19.9%
142.Northern Mariana Is.-$167,797,000+12.8%
143.Vanuatu-$157,291,000+47.1%
144.Palau-$145,792,000-3.7%
145.Sao Tome/Principe-$136,219,000-0.2%
146.Central African Rep.-$130,834,000-41.6%
147.St Maarten (Dutch)-$129,547,000+77.1%
148.Anguilla-$120,314,000+47.7%
149.Cook Islands-$112,237,000+5.8%
150.Nauru-$108,525,000+383.1%
151.Tuvalu-$56,748,000-26.5%
152.American Samoa-$46,856,000+217%
153.St. Pierre/Miquelon-$41,379,000-22.1%
154.Wallis/Futuna Is.-$39,027,000+6.9%
155.Solomon Islands-$32,277,000-55.2%
156.Br. Indian Ocean Terr.-$27,573,000-48.8%
157.Suriname-$24,081,000-110.4%
158.Norfolk Island-$23,455,000-51.5%
159.Montserrat-$21,731,000-4,361%
160.Guam-$20,299,000+580.3%
161.French S./Antarctic Terr.-$11,491,000-72.5%
162.Western Sahara-$10,154,000-87.1%
163.Christmas Island-$9,860,000-12.9%
164.Micronesia-$5,638,000-95%
165.Saint Helena-$4,615,000-77.5%
166.Cocos (Keeling) Is.-$2,612,000-55.3%
167.Pitcairn-$803,000-75.6%


Thailand incurred a -$1.1 billion trade deficit in 2018 reversing a $10.9 billion surplus the previous year. Similarly, Japan saw its $26.2 billion surplus in 2018 swing to a -$10.2 billion deficit during 2018 while Indonesia went from $11.9 billion in black ink to -$8.5 billion in red ink. Another notable reversal was Poland’s -$5.9 billion trade deficit which is in stark contrast to its $3.3 billion surplus for 2017.

Research Sources:
Investopedia, Net Exports Definition. Accessed on August 14, 2019

International Trade Centre Trade Map,. Accessed on August 14, 2019

Wikipedia, Balance of trade. Accessed on August 14, 2019