External balance on goods and services

External balance on goods and services is the method of calculating potential profits or losses in terms of exporting and importing any type of merchandise. If the total number of exports of goods and services is higher than the import, then we are dealing with a positive external balance. If the situation is opposite, then the nation is suffering losses and its external balance on goods and services is negative.

Which country loses the most? Top 5 countries with negative external balance

At the first place of the infamous list is the United States of America with a seemingly incredibly large number of -$610,470,000, which is roughly -$610 million. Though it seems quite a lot, it is still comparably low when we take into account their GDP. The value of -$78 million which is a huge difference when compared to the number 1, belongs to India.

The third place, according to the latest gathered data from 2019, belongs to the Philippines, which suffered the loss of $45 million. It is important to note that Venezuela had an external balance on goods and services of -$70 million, but the officials haven't provided the official data gathering bodies since 2014.

What about the largest gains? Here is the list of countries that had large profits

Germany is first with the value of $223 million, which is followed by China with $165 million. According to the same data from 2019, we can notice Russian Federation at the lowest step of the podium with external balance on goods and services estimated at $128 million.

There are two countries that are coming close to Russia in terms of the profit, and these are Singapore and the United Arab Emirates. Both had the positive balance at approximately $100 million.