Those 161 trade partners listed in this article incurred international deficits due to their export sales revenues coming in below from outflowing payments for imported products.
On a more upbeat note, 58 of the 161 global traders generated a positive trade balance during 2021 thus improving the amount of black ink from what was posted one year earlier in 2020.
Year over year, the fastest-increasing trade surpluses belong to the British Antarctic Territories (up 14,300% from 2020), Norway (up 5,476%), Iran (up 892%), Oman (up 478%), Trinidad and Tobago (up 344.1%), Vietnam (up 278.8%), Azerbaijan (up 250.1%), Pitcairn (up 247.5%), Iraq (up 203.9%), Kuwait (up 175.4%) then Saudi Arabia (up 155%).
Trade Surpluses by Country
The following 58 trade entities earned a collective trade surplus equal to an overall total US$2.410 trillion during 2021.
| Rank | Trade Entity | 2021 Surplus | 2020-1 |
|---|---|---|---|
| 1. | China | $686,134,200,000 | +29.1% |
| 2. | Germany | $205,192,436,000 | -0.9% |
| 3. | Russia | $198,812,667,000 | +88.6% |
| 4. | Saudi Arabia | $115,212,888,000 | +155% |
| 5. | Australia | $96,706,503,000 | +85.1% |
| 6. | Vietnam | $76,263,355,000 | +278.8% |
| 7. | Netherlands | $70,553,950,000 | +4.9% |
| 8. | Ireland | $70,488,950,000 | -12.6% |
| 9. | Taiwan | $65,066,611,000 | +9.4% |
| 10. | Norway | $61,843,562,000 | +5476% |
| 11. | Brazil | $61,406,528,000 | +21.9% |
| 12. | Malaysia | $60,967,286,000 | +38.6% |
| 13. | Switzerland | $57,180,618,000 | +104.6% |
| 14. | Qatar | $54,345,285,000 | +111.7% |
| 15. | Singapore | $50,837,197,000 | +12.8% |
| 16. | Italy | $44,434,867,000 | -38.6% |
| 17. | Iraq | $38,821,969,000 | +203.9% |
| 18. | Oman | $37,541,575,000 | +478% |
| 19. | Kuwait | $34,183,412,000 | +175.4% |
| 20. | Indonesia | $32,518,755,000 | +50% |
| 21. | United Arab Emirates | $30,193,115,000 | -65.8% |
| 22. | South Africa | $30,119,797,000 | +77.4% |
| 23. | South Korea | $29,404,127,000 | -35% |
| 24. | Angola | $22,384,113,000 | +91.3% |
| 25. | Iran | $22,186,646,000 | +892% |
| 26. | Belgium | $16,951,878,000 | -28.2% |
| 27. | Libya | $15,734,484,000 | -652.8% |
| 28. | Czech Republic | $15,321,642,000 | -26.6% |
| 29. | Argentina | $14,654,975,000 | +17% |
| 30. | Canada | $14,143,331,000 | -198% |
| 31. | Azerbaijan | $10,508,175,000 | +250.1% |
| 32. | Kazakhstan | $7,665,601,000 | -13.6% |
| 33. | Papua New Guinea | $7,615,064,000 | +25.1% |
| 34. | Democr. Rep. Congo | $7,501,236,000 | +0.6% |
| 35. | Peru | $5,082,372,000 | +88.7% |
| 36. | Gabon | $4,665,373,000 | +54.9% |
| 37. | Equatorial Guinea | $4,268,397,000 | +112.7% |
| 38. | Zambia | $4,105,992,000 | +53.1% |
| 39. | Denmark | $3,571,815,000 | -65.5% |
| 40. | Trinidad/Tobago | $2,845,296,000 | +344.1% |
| 41. | Sweden | $2,728,732,000 | -50.4% |
| 42. | Algeria | $2,497,607,000 | -120.5% |
| 43. | Brunei Darussalam | $2,483,357,000 | +92.1% |
| 44. | Guinea | $2,412,418,000 | -66.4% |
| 45. | Mongolia | $2,398,468,000 | +5.3% |
| 46. | Hungary | $2,352,072,000 | -64.1% |
| 47. | Bolivia | $1,470,927,000 | -2370% |
| 48. | Chad | $1,369,292,000 | +102.3% |
| 49. | Bahrain | $1,118,121,000 | -128.7% |
| 50. | Myanmar | $822,788,000 | -179.5% |
| 51. | Ecuador | $549,336,000 | -77.3% |
| 52. | Greenland | $464,224,000 | -19.1% |
| 53. | Burkina Faso | $350,277,000 | +78.8% |
| 54. | Eritrea | $284,908,000 | -0.4% |
| 55. | Faroe Islands | $216,586,000 | +30.5% |
| 56. | Falkland Is (Malvinas) | $179,850,000 | -41% |
| 57. | Suriname | $132,040,000 | -191.4% |
| 58. | Nauru | $97,968,000 | -1653% |
| 59. | Guyana | $97,187,000 | -69.6% |
| 60. | Micronesia | $67,986,000 | -723.9% |
| 61. | Seychelles | $66,594,000 | -109.3% |
| 62. | Laos | $65,509,000 | -80.7% |
| 63. | South Sudan | $57,181,000 | -134.8% |
| 54. | Solomon Islands | $52,048,000 | -72.1% |
| 55. | Tokelau | $18,776,000 | -35.3% |
| 56. | Congo | $10,727,000 | -99.7% |
| 57. | Pitcairn | $2,203,000 | +247.5% |
| 58. | British Antarctic Terr | $144,000 | +14300% |
Among the world’s biggest economies, mainland China’s trade surplus expanded by 29.1% from 2020 to 2021 while Germany’s black ink from international trade flatlined via a -0.9% reduction.
In contrast, strong petroleum exporters Russia and Saudi Arabia grew their respective trade surpluses by 88.6% and 155% respectively.
Trade Deficits by Country
One hundred and sixty-one trade entities posted deficits for 2021, outpacing the 68 countries, islands, territories or other geographic that earned surpluses over the same timeframe.
Collectively, the overall trade deficit for these 161 geographies equaled -$2.645 trillion for 2021.
Out of the 161 trade entities that registered a deficit in 2021, the vast majority (113) expanded their negative trade balances compared to the amount of international red ink for 2020.
Year over year, the fastest-increasing trade deficit was posted by Poland via its 3,386% increase in red ink.
Western Sahara incurred the second-highest expansion in negative trade balance (up 1,936 from 2020) ahead of Lithuania (up 637.2%), Cambodia (up 604.6%), and Austria (up 595.7%).
| Rank | Trade Entity | 2021 Deficit | 2020-1 |
|---|---|---|---|
| 1. | United States | -$1,183,123,078,000 | +20.5% |
| 2. | United Kingdom | -$220,468,318,000 | -7.6% |
| 3. | India | -$175,588,331,000 | +89.8% |
| 4. | France | -$132,428,300,000 | +42% |
| 5. | Philippines | -$49,766,774,000 | +85.2% |
| 6. | Turkey | -$46,158,444,000 | -7.4% |
| 7. | Pakistan | -$44,226,618,000 | +87.4% |
| 8. | Hong Kong | -$41,815,266,000 | +94.1% |
| 9. | Spain | -$34,501,298,000 | +95.4% |
| 10. | Egypt | -$33,079,525,000 | -1.2% |
| 11. | Israel | -$30,451,165,000 | +59.4% |
| 12. | Greece | -$28,778,187,000 | +40.6% |
| 13. | Romania | -$28,012,216,000 | +33.3% |
| 14. | Portugal | -$22,660,705,000 | +38.2% |
| 15. | Morocco | -$22,088,514,000 | +31.4% |
| 16. | Colombia | -$20,612,762,000 | +65.7% |
| 17. | Bangladesh | -$20,087,470,000 | +174% |
| 18. | Macao | -$17,954,230,000 | +64.3% |
| 19. | Poland | -$17,619,197,000 | +3486% |
| 20. | Austria | -$17,325,020,000 | +595.7% |
| 21. | Japan | -$15,217,866,000 | -342.5% |
| 22. | Dominican Republic | -$15,111,160,000 | +73.9% |
| 23. | Liberia | -$14,725,294,000 | +29.5% |
| 24. | Nepal | -$14,164,307,000 | +59.3% |
| 25. | Guatemala | -$13,011,715,000 | +91.2% |
| 26. | Kenya | -$12,842,752,000 | +36.8% |
| 27. | Marshall Islands | -$12,807,248,000 | -9.6% |
| 28. | Ethiopia | -$12,232,351,000 | +5.4% |
| 29. | Mexico | -$11,969,956,000 | -135.2% |
| 30. | Cambodia | -$11,131,107,000 | +604.6% |
| 31. | Croatia | -$10,971,861,000 | +20.5% |
| 32. | El Salvador | -$9,987,091,000 | +67.9% |
| 33. | Jordan | -$9,712,502,000 | +7% |
| 34. | Uzbekistan | -$9,689,298,000 | +41.9% |
| 35. | Lebanon | -$9,626,727,000 | +27.6% |
| 36. | Luxembourg | -$9,290,021,000 | +25.9% |
| 37. | Serbia | -$8,227,828,000 | +21.5% |
| 38. | Sri Lanka | -$8,170,645,000 | +66.7% |
| 39. | Yemen | -$7,634,084,000 | -15.3% |
| 40. | Gibraltar | -$7,507,828,000 | +13.5% |
| 41. | Panama | -$7,222,622,000 | +42.1% |
| 42. | Honduras | -$6,655,054,000 | +101.3% |
| 43. | Ghana | -$6,592,963,000 | +145.6% |
| 44. | Bahamas | -$6,449,049,000 | +245.6% |
| 45. | New Zealand | -$6,227,425,000 | -1610% |
| 46. | Cyprus | -$6,201,759,000 | +10.9% |
| 47. | Bulgaria | -$5,507,618,000 | +79.9% |
| 48. | Tunisia | -$5,379,223,000 | +17.4% |
| 49. | Djibouti | -$5,196,112,000 | -0.5% |
| 50. | Nigeria | -$4,871,258,000 | -75.2% |
| 51. | Venezuela | -$4,707,881,000 | +133.7% |
| 52. | Finland | -$4,666,321,000 | +75.5% |
| 53. | Tanzania | -$4,482,401,000 | +79.8% |
| 54. | Bosnia/Herzegovina | -$4,415,975,000 | +18.7% |
| 55. | Georgia | -$4,405,927,000 | +22.8% |
| 56. | Afghanistan | -$4,232,758,000 | -38.7% |
| 57. | Ukraine | -$4,092,540,000 | -10.8% |
| 58. | Costa Rica | -$4,085,380,000 | +44.3% |
| 59. | Sudan | -$4,082,650,000 | -7.7% |
| 60. | Moldova | -$4,032,363,000 | +36.7% |
| 61. | Jamaica | -$4,011,731,000 | +15.3% |
| 62. | Kyrgyzstan | -$3,911,177,000 | +127.4% |
| 63. | Syria | -$3,880,006,000 | -3.3% |
| 64. | Malta | -$3,874,605,000 | +51.2% |
| 65. | Senegal | -$3,799,390,000 | -2.2% |
| 66. | Lithuania | -$3,736,292,000 | +637.2% |
| 67. | Uganda | -$3,673,140,000 | -10.4% |
| 68. | Nicaragua | -$3,668,112,000 | +151.6% |
| 69. | Latvia | -$3,637,906,000 | +71.7% |
| 70. | Mozambique | -$3,511,011,000 | +17.9% |
| 71. | Mauritius | -$3,494,999,000 | +29.8% |
| 72. | Albania | -$3,448,366,000 | +15.1% |
| 73. | Haiti | -$3,200,770,000 | +0.5% |
| 74. | Somalia | -$3,147,626,000 | -20.1% |
| 75. | Paraguay | -$3,012,433,000 | +112.5% |
| 76. | Slovenia | -$2,833,975,000 | -395.7% |
| 77. | Cuba | -$2,644,096,000 | +19.1% |
| 78. | Cameroon | -$2,642,445,000 | +8.4% |
| 79. | Botswana | -$2,446,372,000 | +8.9% |
| 80. | Tajikistan | -$2,430,807,000 | +33% |
| 81. | Mali | -$2,430,212,000 | -640.1% |
| 82. | Maldives | -$2,428,969,000 | +45% |
| 83. | Armenia | -$2,348,198,000 | +14.4% |
| 84. | Chile | -$2,280,469,000 | -126.6% |
| 85. | Benin | -$2,164,068,000 | +19.2% |
| 86. | Niger | -$2,151,730,000 | +21% |
| 87. | Montenegro | -$2,067,243,000 | +19% |
| 88. | Belarus | -$1,921,667,000 | -46.4% |
| 89. | British Virgin Islands | -$1,895,697,000 | +248.4% |
| 90. | Estonia | -$1,880,590,000 | +118.6% |
| 91. | Iceland | -$1,865,249,000 | +67.2% |
| 92. | Rwanda | -$1,664,288,000 | +157% |
| 93. | Madagascar | -$1,661,615,000 | +30.8% |
| 94. | Namibia | -$1,626,910,000 | +36.9% |
| 95. | Thailand | -$1,609,614,000 | -107.8% |
| 96. | Zimbabwe | -$1,541,446,000 | +23.5% |
| 97. | Cayman Islands | -$1,520,738,000 | +15.9% |
| 98. | Saint Lucia | -$1,453,334,000 | +212.2% |
| 99. | Andorra | -$1,449,783,000 | +2.2% |
| 100. | French Polynesia | -$1,437,963,000 | -12% |
| 101. | Togo | -$1,423,835,000 | +20.7% |
| 102. | Barbados | -$1,323,448,000 | +14.5% |
| 103. | Fiji | -$1,301,253,000 | +43.7% |
| 104. | Curaçao | -$1,242,808,000 | +34.9% |
| 105. | Aruba | -$1,081,427,000 | +23.8% |
| 106. | Palestine | -$1,041,061,000 | -79.2% |
| 107. | North Macedonia | -$1,030,202,000 | -50.4% |
| 108. | Bermuda | -$1,026,594,000 | +16% |
| 109. | Burundi | -$867,936,000 | +16.2% |
| 110. | Ivory Coast | -$843,929,000 | -143.9% |
| 111. | Uruguay | -$813,017,000 | +23.6% |
| 112. | US Minor Outlying Is | -$811,620,000 | -43.1% |
| 113. | Belize | -$799,963,000 | +39.1% |
| 114. | Cabo Verde | -$764,204,000 | +12% |
| 115. | Bhutan | -$745,710,000 | +19% |
| 116. | Turkmenistan | -$734,088,000 | -12.9% |
| 117. | Gambia | -$682,576,000 | +5.5% |
| 118. | Dominica | -$654,580,000 | +234.7% |
| 119. | Sierra Leone | -$616,458,000 | +3% |
| 120. | Malawi | -$607,625,000 | -68.8% |
| 121. | Lesotho | -$603,610,000 | -8.9% |
| 122. | Mauritania | -$593,476,000 | -776.7% |
| 123. | Bonaire/St Eustatius/Saba | -$561,210,000 | +158.4% |
| 124. | Timor-Leste | -$487,685,000 | -5.7% |
| 125. | Antigua and Barbuda | -$460,649,000 | +15% |
| 126. | Turks/Caicos Islands | -$433,140,000 | +94.5% |
| 127. | Grenada | -$411,513,000 | +11.2% |
| 128. | Comoros | -$407,890,000 | +64.2% |
| 129. | Samoa | -$341,244,000 | +24.3% |
| 130. | Saint Vincent/Grenadines | -$337,797,000 | +27% |
| 131. | Slovakia | -$322,010,000 | -118.8% |
| 132. | Guinea-Bissau | -$219,279,000 | +32.4% |
| 133. | New Caledonia | -$214,693,000 | -18.4% |
| 134. | Tonga | -$206,129,000 | +25% |
| 135. | Saint Kitts and Nevis | -$195,759,000 | -14.1% |
| 136. | Central African Republic | -$179,912,000 | -64.3% |
| 137. | Sao Tome/Principe | -$147,100,000 | +16.9% |
| 138. | North Korea | -$125,815,000 | -67% |
| 139. | Palau | -$121,819,000 | +49.8% |
| 140. | Cook Islands | -$116,206,000 | +92.7% |
| 141. | Anguilla | -$108,931,000 | +85.8% |
| 142. | Sint Maarten (Dutch) | -$108,709,000 | -2.6% |
| 143. | Kiribati | -$67,007,000 | -32.8% |
| 144. | Saint Pierre/Miquelon | -$66,739,000 | -0.4% |
| 145. | French S./Antarctic Terr | -$62,008,000 | +191.9% |
| 146. | Northern Mariana Islands | -$61,403,000 | -41.4% |
| 147. | British Indian Ocean Terr | -$60,466,000 | +96.6% |
| 148. | Eswatini | -$54,387,000 | -137% |
| 149. | Vanuatu | -$53,928,000 | +33.8% |
| 150. | Wallis/Futuna Islands | -$50,217,000 | +29.6% |
| 151. | American Samoa | -$47,126,000 | -3.9% |
| 152. | Norfolk Island | -$33,524,000 | -28% |
| 153. | Western Sahara | -$30,342,000 | +1936% |
| 154. | Guam | -$29,580,000 | +206.8% |
| 155. | Christmas Island | -$26,692,000 | +199.6% |
| 156. | Niue | -$20,581,000 | -129.7% |
| 157. | Tuvalu | -$13,743,000 | -85.6% |
| 158. | Saint Helena | -$11,342,000 | -71.4% |
| 159. | Cocos (Keeling) Is | -$5,982,000 | +216.3% |
| 160. | Montserrat | -$3,140,000 | -87.4% |
| 161. | Bouvet Island | -$19,000 | -157.6% |
There were several notable shifts from trade surpluses in 2020 to deficits for 2021.
Thailand incurred a -$1.6 billion trade deficit in 2021 reversing a $20.7 billion surplus for the previous year.
Similarly, Mexico transitioned from a $34-billion surplus for 2020 to rack up -$12 billion in red ink in 2020.
Japan saw its $6.3 billion surplus in 2021 swing to a -$15.2 billion deficit during 2021 while New Zealand’s agricultural-based economy went from a $412-million surplus to a dramatic -$6.2-billion trade deficit during 2020.
Research Sources:
Investopedia, Net Exports Definition. Accessed on November 4, 2022
International Trade Centre Trade Map,. Accessed on November 4, 2022
Wikipedia, Balance of trade. Accessed on November 4, 2022
