Ranked: The World’s 30 Largest Exporters

Ranked: The World’s 30 Largest Exporters

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As protectionism continues to rise around the world, global trade flows are adapting.

Despite facing a wave of tariffs, China’s goods exports show resilience. In 2023, China’s export volumes neared all-time highs as the price of its manufactured exports fell 10%, on average. Overall, the world’s largest exporter delivered $500 billion in goods to America last year, but this could drastically change under the Trump administration.

This graphic shows the largest exporters in the world, based on data from the World Trade Organization.

The 30 Countries That Export the Most Goods

Last year, global exports of goods totaled $23.8 trillion, declining by 5% compared to 2022.

Overall, the dollar value of exports dropped across 20 of the top 30 largest exporters in the world as the number of trade restrictions rose to almost 3,000 worldwide—approximately fivefold levels seen in 2015.

As the table above shows, China exported $3.4 trillion in goods, exceeding America by nearly $1.4 trillion.

The last time America was the world’s top exporter was in 1979, but since then it has experienced a widening trade deficit. However, energy exports, America’s top export, have largely shifted from a deficit to a surplus over the past decade.

In 2023, the U.S. achieved a $65 billion net energy surplus, strengthening its trade balance. A significant rise in domestic energy production has shielded the nation from oil price shocks, like those triggered by the Russia-Ukraine war, which severely impacted European economies.

Germany, the third-largest overall, saw goods exports increase by a slight 1%, even as the economy was contracting. The industrial-heavy economy was particularly hit by rising oil prices, as several firms paused production due to the spike in energy prices. In 2023, the country exported $160 billion in goods to America, its largest export market.

However, exports to the U.S. could decline as much as 15% if Trump’s proposed tariffs come into effect. The automotive and pharmaceutical sectors would be hit the hardest, declining 32% and 35%, respectively.

Learn More on the Voronoi App

To learn more about this topic from a commodities perspective, check out this graphic on global commodity exports by sector.