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Ranked: The Top 10 Countries With the Largest Trade SurplusPublished 23
hours ago on March 12, 2025
By Dorothy Neufeld
Graphics/Design:
Sabrina Lam
See this visualization first on the Voronoi app.
Scatterplot graphic showing the top 10 countries globally with the
biggest trade surplus in 2023.
01:02
01:57
Ranked: The Top 10 Countries With the Largest Trade Surplus
This was originally posted on our Voronoi app. Download the app for free
on iOS or Android and discover incredible data-driven charts from a
variety of trusted sources.
Key Takeaways
China has the largest trade surplus globally, at $593.9 billion in 2023, falling from its record high of $665.1 billion in 2022.
Europe’s biggest exporter, Germany, ranks second, driven by its
automotive exports.
Five of the world’s largest trade surpluses are in Europe, followed by
two in Asia.
Global trade dynamics are coming under fire in Trump’s new trade war,
amid retaliatory responses from China and Canada.
This graphic shows the countries with the largest trade surplus in 2023,
based on the most recently available data from the World Bank as of
March 4, 2025.
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China’s $594 Billion Surplus in Trade
Fueled by an export boom, China’s trade surplus is the largest globally
at $593.9 billion in 2023.
In just two decades, it has skyrocketed from $33.7 billion. In 2023,
China’s trade surplus was greater than the next three countries
combined, standing as the top trading partner to 60 countries globally.
Since the pandemic, China’s merchandise exports have ballooned by $1 trillion, with the country increasingly exporting to Southeast Asian
countries amid growing trade tensions with America and other nations. At
a time of sluggish GDP growth and weak domestic demand, China has
particularly focused on manufacturing as an engine of economic growth.
Rank Country Net Trade Balance 2023 (B)
1 🇨🇳 China $593.9
2 🇩🇪 Germany $249.9
3 🇮🇪 Ireland $168.6
4 🇸🇬 Singapore $154.8
5 🇸🇦 Saudi Arabia $126.9
6 🇨🇭 Switzerland $124.9
7 🇷🇺 Russia $121.6
8 🇧🇷 Brazil $92.3
9 🇳🇱 Netherlands $92.0
10 🇦🇺 Australia $83.4
As the table above shows, Germany ranks in second, driven by exports of
cars ($174 billion) and vehicle parts ($69.4 billion).
In 2023, the automotive industry made up 17% of Germany’s total exports,
with the top export destination being America. However, with potential
U.S. tariffs looming over the European Union, German carmakers may look
to diversify into other foreign markets, especially as the industry
faces mounting challenges.
Meanwhile, Saudi Arabia ranks in fourth globally, supported by its vast
oil reserves. In 2023, it remained the world’s top crude petroleum
exporter, with China, India, and Japan as its largest buyers.
Learn More on the Voronoi App
To learn more about the balance of trade worldwide, check out this
graphic on the top 10 countries with the highest trade deficit.
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