Those 165 countries showcased in this article incurred international deficits due to their export sales revenues coming in below outflowing payments for imported products.
On a more upbeat note, 65 from all global traders generated a positive trade balance during 2025 compared to 68 surplus-earners one year earlier.
Trade Surpluses by Country
The following trade entities earned a collective trade surplus totaling an overall US$3.228 trillion during 2025, up from $2.959 trillion for 2024.
| Rank | Trade Entity | Trade Surplus | 2024-5 |
|---|---|---|---|
| 1 | mainland China | $1,197,126,430,000 | +21.1% |
| 2 | Germany | $226,116,192,000 | -14% |
| 3 | Vietnam | $196,061,638,000 | +713.2% |
| 4 | Russia | $177,644,294,000 | -10.4% |
| 5 | Taiwan | $155,285,831,000 | +92.8% |
| 6 | Ireland | $131,326,648,000 | +35.4% |
| 7 | Netherlands | $97,541,990,000 | +24.8% |
| 8 | South Korea | $77,394,467,000 | +50% |
| 9 | Brazil | $68,324,221,000 | -7.9% |
| 10 | Norway | $63,882,310,000 | -7.8% |
| 11 | Singapore | $62,120,218,000 | +31.4% |
| 12 | Saudi Arabia | $58,414,227,000 | -20.3% |
| 13 | Italy | $57,292,227,000 | +13.5% |
| 14 | Switzerland | $49,805,620,000 | -35.5% |
| 15 | Iraq | $47,017,744,000 | +64.9% |
| 16 | Australia | $46,365,994,000 | -24.5% |
| 17 | Qatar | $41,295,190,000 | -30.3% |
| 18 | Indonesia | $41,052,205,000 | +32.2% |
| 19 | Oman | $37,619,218,000 | +73.4% |
| 20 | Malaysia | $36,118,969,000 | +20.5% |
| 21 | Czech Republic | $31,820,111,000 | +6.4% |
| 22 | Belgium | $30,926,121,000 | +1.4% |
| 23 | Kuwait | $30,429,041,000 | -19.7% |
| 24 | Peru | $29,125,294,000 | +48.3% |
| 25 | Democratic Republic Congo | $26,518,814,000 | +11.4% |
| 26 | Chile | $24,006,805,000 | +1.6% |
| 27 | Angola | $16,450,730,000 | -35% |
| 28 | Argentina | $15,284,317,000 | -19.1% |
| 29 | Guyana | $14,290,185,000 | -6% |
| 30 | Kazakhstan | $14,194,213,000 | -35% |
| 31 | Denmark | $12,774,954,000 | +21.8% |
| 32 | South Africa | $11,730,458,000 | +28.2% |
| 33 | Hungary | $10,547,568,000 | -3% |
| 34 | Papua New Guinea | $9,687,646,000 | +35.1% |
| 35 | Ivory Coast | $9,201,473,000 | +180.4% |
| 36 | Libya | $9,032,159,000 | +28.7% |
| 37 | Brunei Darussalam | $6,181,765,000 | +55.9% |
| 38 | Turkmenistan | $6,160,636,000 | -20.6% |
| 39 | Sweden | $4,940,295,000 | -17.9% |
| 40 | Ecuador | $4,504,329,000 | -8.6% |
| 41 | Gabon | $4,472,316,000 | -9.7% |
| 42 | Mongolia | $4,390,477,000 | +5.6% |
| 43 | Slovenia | $4,388,646,000 | -179.2% |
| 44 | Guinea | $4,133,381,000 | -66.3% |
| 45 | Burkina Faso | $3,695,389,000 | -566.5% |
| 46 | Laos | $3,552,103,000 | +38% |
| 47 | Slovakia | $2,957,198,000 | +49.9% |
| 48 | Mexico | $2,328,591,000 | -113.6% |
| 49 | Equatorial Guinea | $2,273,498,000 | -36.2% |
| 50 | Trinidad/Tobago | $2,032,022,000 | +48.6% |
| 51 | Niger | $1,799,073,000 | -464.6% |
| 52 | Chad | $1,515,328,000 | -50.1% |
| 53 | Suriname | $1,228,638,000 | -561.2% |
| 54 | Congo | $995,180,000 | +6.6% |
| 55 | Azerbaijan | $669,063,000 | -87.8% |
| 56 | Greenland | $511,722,000 | +2.3% |
| 57 | Eritrea | $409,471,000 | +70.8% |
| 58 | South Sudan | $408,694,000 | -149.8% |
| 59 | Falkland Is (Malvinas) | $240,526,000 | +115.4% |
| 60 | Zambia | $124,588,000 | +1494% |
| 61 | Solomon Islands | $119,879,000 | -297.9% |
| 62 | Uganda | $71,700,000 | -101.2% |
| 63 | Nauru | $45,817,000 | -66.5% |
| 64 | Micronesia | $9,041,000 | -94.4% |
| 65 | Western Sahara | $3,062,000 | +26.4% |
Year over year, the fastest-increasing trade surpluses belong to Zambia (up 1,494% from 2024), Vietnam (up 713.2%), Ivory Coast (up 180.4%), Falkland Islands also called Malvina (up 115.4%), then Taiwan (up 92.8%).
Among the world’s biggest economies, mainland China’s trade surplus expanded by 21.1% from 2024 to 2025 while Germany’s black ink from international trade shrank by -14% year over year.
Smaller trade partners Burkina Faso (down -566.5%), Suriname (down -561.2%) and Niger (down -464.6%) recorded much lesser trade surpluses in 2025 compared to 2024.
Trade Deficits by Country
One hundred and sixty-five trade entities recorded deficits for 2025, outpacing the 65 countries, islands, territories or other geographic that earned surpluses over the same timeframe.
Collectively, the overall trade deficit for these 165 geographies totaled a sum equal to -US$3.353 trillion in red ink for 2025 up from -$3.109 trillion one year earlier.
Out of the 165 trade entities that registered a deficit in 2025, over half (86) saw their negative trade balances grow compared to the corresponding amount of international red ink for 2024.
| Rank | Trade Entity | Trade Deficit | 2024-5 |
|---|---|---|---|
| 1 | United States | -$1,328,081,117,000 | +2.6% |
| 2 | United Kingdom | -$389,825,073,000 | +31.9% |
| 3 | India | -$306,045,336,000 | +9.5% |
| 4 | France | -$109,059,470,000 | -4.2% |
| 5 | Türkiye | -$92,008,703,000 | +11.9% |
| 6 | Hong Kong | -$80,677,040,000 | +38.3% |
| 7 | Spain | -$71,403,028,000 | +50% |
| 8 | Philippines | -$57,973,845,000 | -6.3% |
| 9 | Egypt | -$49,612,465,000 | -0.5% |
| 10 | Greece | -$37,901,522,000 | -1.6% |
| 11 | Morocco | -$37,707,827,000 | +22.9% |
| 12 | Portugal | -$37,583,769,000 | +26.5% |
| 13 | Romania | -$36,888,784,000 | +2% |
| 14 | Israel | -$36,703,334,000 | +16.1% |
| 15 | Pakistan | -$34,324,601,000 | +42.7% |
| 16 | Ukraine | -$26,847,344,000 | -10.8% |
| 17 | Croatia | -$21,909,657,000 | +12.8% |
| 18 | Colombia | -$20,329,317,000 | +39.7% |
| 19 | Guatemala | -$19,024,527,000 | +6.3% |
| 20 | Marshall Islands | -$18,378,737,000 | +12.2% |
| 21 | Japan | -$17,713,228,000 | -49.8% |
| 22 | Dominican Republic | -$17,705,033,000 | -10.5% |
| 23 | Kenya | -$17,589,429,000 | +47.2% |
| 24 | Jordan | -$14,962,134,000 | +10.3% |
| 25 | Tanzania | -$14,507,325,000 | +107.8% |
| 26 | Lebanon | -$14,145,881,000 | +8.7% |
| 27 | Panama | -$13,492,340,000 | -0.1% |
| 28 | Macao | -$12,483,388,000 | -15.8% |
| 29 | Bulgaria | -$12,260,599,000 | +71.9% |
| 30 | United Arab Emirates | -$12,162,199,000 | +132% |
| 31 | Thailand | -$11,847,568,000 | +8.6% |
| 32 | El Salvador | -$11,419,802,000 | +20.3% |
| 33 | Serbia | -$11,008,553,000 | +19.1% |
| 34 | Luxembourg | -$10,788,379,000 | +16.4% |
| 35 | Iran | -$10,125,943,000 | -37.3% |
| 36 | Georgia | -$9,848,829,000 | -0.3% |
| 37 | Belarus | -$9,514,468,000 | -7.4% |
| 38 | Cyprus | -$9,411,338,000 | +17.6% |
| 39 | Kyrgyzstan | -$9,368,526,000 | +14.7% |
| 40 | Yemen | -$8,630,676,000 | +241.3% |
| 41 | Togo | -$8,623,500,000 | +364.8% |
| 42 | Nepal | -$8,519,408,000 | -9% |
| 43 | Bahamas | -$7,661,072,000 | +91.5% |
| 44 | Bosnia/Herzegovina | -$7,509,670,000 | +7.9% |
| 45 | Austria | -$7,396,146,000 | -408.9% |
| 46 | Lithuania | -$7,381,656,000 | +48.8% |
| 47 | Moldova | -$7,138,879,000 | +29.6% |
| 48 | Poland | -$7,000,014,000 | -1388% |
| 49 | Senegal | -$6,894,550,000 | +35.8% |
| 50 | Djibouti | -$6,867,988,000 | -28.2% |
| 51 | Paraguay | -$6,827,521,000 | +33.7% |
| 52 | Uzbekistan | -$6,767,014,000 | -56.6% |
| 53 | Canada | -$6,759,410,000 | -145.1% |
| 54 | Gibraltar | -$6,006,178,000 | -16.5% |
| 55 | Venezuela | -$5,753,170,000 | +295.9% |
| 56 | Jamaica | -$5,659,344,000 | +5.2% |
| 57 | Syria | -$5,479,689,000 | +70.8% |
| 58 | Malta | -$5,423,310,000 | -4.3% |
| 59 | Albania | -$5,417,314,000 | -3.3% |
| 60 | Sri Lanka | -$5,355,854,000 | -18.6% |
| 61 | Mauritius | -$5,320,009,000 | +5.4% |
| 62 | Mozambique | -$4,941,015,000 | +393.4% |
| 63 | Honduras | -$4,540,635,000 | -39.8% |
| 64 | Mali | -$4,393,386,000 | -497% |
| 65 | Cuba | -$4,302,940,000 | +38.2% |
| 66 | Montenegro | -$4,297,305,000 | +15% |
| 67 | Tajikistan | -$4,271,467,000 | -12.8% |
| 68 | Estonia | -$4,205,102,000 | +45.1% |
| 69 | Algeria | -$4,185,124,000 | -193.4% |
| 70 | Latvia | -$4,169,741,000 | +39.5% |
| 71 | Ethiopia | -$3,877,918,000 | -14.7% |
| 72 | Iceland | -$3,772,459,000 | +30.9% |
| 73 | Nicaragua | -$3,656,073,000 | -7.3% |
| 74 | Haiti | -$3,515,478,000 | +27.7% |
| 75 | Maldives | -$3,508,235,000 | -1.2% |
| 76 | Afghanistan | -$3,431,083,000 | -49.4% |
| 77 | Bangladesh | -$3,318,225,000 | -73.1% |
| 78 | Bermuda | -$3,187,829,000 | +165.1% |
| 79 | Malawi | -$3,137,464,000 | +33.1% |
| 80 | Rwanda | -$3,129,026,000 | -6.4% |
| 81 | Cayman Islands | -$3,084,882,000 | +93.1% |
| 82 | Benin | -$3,038,290,000 | +18.9% |
| 83 | Sudan | -$2,947,976,000 | +1031% |
| 84 | Curaçao | -$2,813,026,000 | +15.1% |
| 85 | Madagascar | -$2,737,259,000 | +21.8% |
| 86 | Cambodia | -$2,712,347,000 | +32.6% |
| 87 | Somalia | -$2,640,173,000 | -38.4% |
| 88 | Botswana | -$2,572,611,000 | -19.5% |
| 89 | Costa Rica | -$2,477,935,000 | -34.8% |
| 90 | Liberia | -$2,418,509,000 | +27.3% |
| 91 | Armenia | -$2,219,619,000 | -41.3% |
| 92 | North Macedonia | -$2,134,529,000 | -39.8% |
| 93 | Fiji | -$2,129,658,000 | +8% |
| 94 | Andorra | -$2,090,886,000 | +18.8% |
| 95 | Cameroon | -$1,995,921,000 | -30.7% |
| 96 | Barbados | -$1,854,296,000 | +9.6% |
| 97 | North Korea | -$1,838,827,000 | -9.9% |
| 98 | French Polynesia | -$1,741,552,000 | -18.3% |
| 99 | Palestine | -$1,670,472,000 | -65.4% |
| 100 | Nigeria | -$1,660,943,000 | -114.2% |
| 101 | Uruguay | -$1,659,350,000 | -27% |
| 102 | Bhutan | -$1,551,744,000 | +80.6% |
| 103 | Mauritania | -$1,543,446,000 | +130.9% |
| 104 | Saint Lucia | -$1,543,176,000 | -1% |
| 105 | Namibia | -$1,450,889,000 | -36.8% |
| 106 | Aruba | -$1,374,817,000 | +7% |
| 107 | Belize | -$1,213,121,000 | +4.3% |
| 108 | British Virgin Islands | -$1,177,936,000 | +47% |
| 109 | Gambia | -$1,119,100,000 | +19.2% |
| 110 | Finland | -$992,919,000 | -65.1% |
| 111 | Timor-Leste | -$983,184,000 | +1.1% |
| 112 | Seychelles | -$959,995,000 | +5.1% |
| 113 | New Zealand | -$947,896,000 | -78.8% |
| 114 | Antigua/Barbuda | -$932,369,000 | +48.1% |
| 115 | Cabo Verde | -$926,187,000 | +9.3% |
| 116 | US Minor Outlying Is | -$926,037,000 | -30.4% |
| 117 | Lesotho | -$924,361,000 | +5.8% |
| 118 | Turks/Caicos Islands | -$871,378,000 | +1.1% |
| 119 | Ghana | -$764,457,000 | -124.5% |
| 120 | Bonaire/St Eustatius/Saba | -$648,229,000 | -0.3% |
| 121 | New Caledonia | -$521,040,000 | +25.7% |
| 122 | Grenada | -$488,144,000 | -17.4% |
| 123 | Sierra Leone | -$462,833,000 | -29.5% |
| 124 | Samoa | -$456,294,000 | +1.8% |
| 125 | Tunisia | -$424,031,000 | -92.9% |
| 126 | Zimbabwe | -$413,882,000 | -76.9% |
| 127 | Faroe Islands | -$406,202,000 | -9516% |
| 128 | Myanmar | -$385,502,000 | -115.6% |
| 129 | St Vincent/Grenadines | -$381,935,000 | -14.4% |
| 130 | Bahrain | -$378,798,000 | -108.8% |
| 131 | Eswatini | -$354,331,000 | -374.3% |
| 132 | Saint Kitts/Nevis | -$344,561,000 | +6.2% |
| 133 | Bolivia | -$327,294,000 | -61.3% |
| 134 | Vanuatu | -$323,897,000 | +33% |
| 135 | Comoros | -$316,225,000 | +21.5% |
| 136 | St Maarten (Dutch) | -$314,909,000 | +14.2% |
| 137 | Dominica | -$292,194,000 | +9.1% |
| 138 | Burundi | -$274,697,000 | -74.6% |
| 139 | Tonga | -$251,183,000 | -24.3% |
| 140 | Palau | -$228,286,000 | +25.5% |
| 141 | Kiribati | -$187,682,000 | +129.5% |
| 142 | Cook Islands | -$139,565,000 | -13.7% |
| 143 | Anguilla | -$138,053,000 | +0.7% |
| 144 | American Samoa | -$132,423,000 | +3.5% |
| 145 | Guinea-Bissau | -$131,306,000 | -59.8% |
| 146 | Sao Tome/Principe | -$129,577,000 | -26.9% |
| 147 | Northern Mariana Islands | -$113,973,000 | -24.4% |
| 148 | Guam | -$109,848,000 | -10.2% |
| 149 | British Indian Ocean Terr | -$89,295,000 | -25.7% |
| 150 | Saint Pierre/Miquelon | -$73,347,000 | -27.1% |
| 151 | Tuvalu | -$69,747,000 | +131.2% |
| 152 | French South/Antarctic Terr | -$57,923,000 | +17.1% |
| 153 | Wallis/Futuna Islands | -$54,815,000 | -4.8% |
| 154 | Christmas Island | -$35,326,000 | -13.7% |
| 155 | Central African Republic | -$31,990,000 | -94.4% |
| 156 | Norfolk Island | -$31,638,000 | -23.2% |
| 157 | Niue | -$31,550,000 | -35.2% |
| 158 | Cocos (Keeling) Islands | -$26,460,000 | +120.4% |
| 159 | Saint Helena | -$24,635,000 | +17.8% |
| 160 | Montserrat | -$23,980,000 | -39.3% |
| 161 | Tokelau | -$12,863,000 | +165.2% |
| 162 | Bouvet Island | -$4,517,000 | -69.3% |
| 163 | Pitcairn | -$476,000 | -84.5% |
| 164 | British Antarctic Territory | -$166,000 | -5633% |
| 165 | West Asia unspecified | -$157,000 | -1.9% |
Year over year, the fastest-increasing trade deficit was recorded by Sudan via its 1,031% increase in red ink from 2024.
Mozambique incurred the second-highest expansion in negative trade balance (up 393.4%) ahead of Togo (up 364.8%), Venezuela (up 295.9%) and Yemen (up 241.3%).
The country that once again recording the greatest overall trade deficit, the United States of America, increased its red ink by 2.6% from 2024 to 2025. That percentage represents a slower increase than the 12.3% trade deficit growth from 2023 to 2024.
Research Sources:
Investopedia, Net Exports Definition. Accessed on June 15, 2026
International Trade Centre Trade Map,. Accessed on June 15, 2026
Wikipedia, Balance of trade. Accessed on June 15, 2026