External balance on goods and services (% of GDP)

Table of Contents

External balance (% of GDP) by country

Lack of map.
A map of the world, with colours to highlight the external balance (% of GDP) of each country. Numbers on the legend are percent.

List of all countries

Flag Position Country Number
1 Luxembourg 38.72
2 Singapore 31.92
3 Suriname 27
4 Gabon 25.27
5 Ireland 22.27
6 Guinea 16.05
7 Djibouti 13.11
8 Netherlands 10.41
9 Lithuania 9.65
10 Malta 9.61
11 Slovenia 9.23
12 Switzerland 8.79
13 Angola 7.95
14 Czechia 6.83
15 Poland 6.76
16 Denmark 6.45
17 Malaysia 6.44
18 Germany 5.73
19 Chile 5.25
20 Russia 4.96
21 South Africa 4.94
22 Thailand 4.93
23 Israel 4.71
24 Sweden 4.62
25 Brunei Darussalam 4.42
26 Mongolia 4.39
27 Uruguay 4.38
28 Paraguay 4.17
29 Australia 3.85
30 South Korea 3.72
31 Italy 3.66
32 Austria 3.6
33 Belarus 3.12
34 Vietnam 2.92
35 Argentina 2.73
36 China 2.49
37 Costa Rica 2.38
38 Mexico 2.2
39 Hungary 2.16
40 Saudi Arabia 2.08
41 Congo 2.06
42 Ecuador 1.78
43 Bulgaria 1.7
44 Myanmar 1.51
45 Spain 1.47
46 Brazil 1.39
47 Peru 1.23
48 Latvia 1.16
49 Indonesia 1.15
50 Slovakia 0.81
51 Estonia 0.48
52 Belgium 0.45
53 Finland 0.34
54 Sudan 0.3
55 Belize -0.29
56 India -0.32
57 United Kingdom -0.36
58 Norway -0.45
59 Iceland -0.73
60 Azerbaijan -0.77
61 Tanzania -1.01
62 Ukraine -1.05
63 Cambodia -1.45
64 Democratic Republic of the Congo -1.64
65 France -2.02
66 Portugal -2.02
67 Canada -2.05
68 United States of America (USA) -3.11
69 Equatorial Guinea -3.13
70 Turkey -3.76
71 Antigua and Barbuda -3.99
72 Romania -4.46
73 Nicaragua -4.83
74 Benin -5.09
75 Cameroon -5.71
76 Iran -6.09
77 Cyprus -6.22
78 Colombia -6.29
79 Sri Lanka -6.36
80 Bangladesh -6.4
81 Mali -7.04
82 Pakistan -7.05
83 Madagascar -7.09
84 Croatia -7.23
85 Greece -7.55
86 Egypt -7.59
87 Dominican Republic -7.7
88 Morocco -7.72
89 Nigeria -7.74
90 Philippines -7.8
91 Guatemala -8.05
92 Mauritania -8.39
93 Solomon Islands -8.4
94 Namibia -8.53
95 Armenia -8.64
96 Serbia -8.9
97 Togo -9.29
98 Ethiopia -9.84
99 Uzbekistan -10.42
100 Algeria -11.05
101 North Macedonia -12.79
102 Jamaica -14.17
103 Senegal -14.47
104 Bosnia and Herzegovina -14.62
105 Albania -14.83
106 Guinea-Bissau -14.86
107 Honduras -15.3
108 Rwanda -16.28
109 Botswana -16.7
110 Chad -17.17
111 Fiji -17.2
112 Jordan -17.93
113 Lebanon -17.94
114 Central African Republic -18.13
115 El Salvador -18.37
116 Georgia -18.56
117 Mauritius -18.72
118 Samoa -19.34
119 Kyrgyzstan -20.33
120 Tajikistan -21.17
121 Moldova -22.46
122 Burundi -22.93
123 Vanuatu -23.58
124 Haiti -24.05
125 Sierra Leone -24.5
126 Nepal -27.13
127 Grenada -31.3
128 Dominica -33.69
129 Seychelles -34.19
130 Montenegro -34.77
131 Cabo Verde -34.99
132 Libya -46.28
133 Liberia -65.93
134 Somalia -91.14

Bar chart

World external balance by year (% of GDP)

World external balance by year (% of GDP).

Table

Year Number
1970 0.05
1971 0.23
1972 0.51
1973 0.99
1974 -0.39
1975 -0.28
1976 -0.26
1977 -0.35
1978 -0.53
1979 -0.6
1980 -0.78
1981 -0.85
1982 -0.53
1983 -0.4
1984 -0.3
1985 -0.77
1986 -0.73
1987 -0.19
1988 -0.45
1989 -0.54
1990 0
1991 0.06
1992 0.33
1993 -0.27
1994 0.34
1995 0.28
1996 0.38
1997 0.8
1998 0.85
1999 0.99
2000 1.13
2001 0.77
2002 1.05
2003 0.91
2004 0.96
2005 1.32
2006 1.64
2007 1.52
2008 1.03
2009 0.88
2010 0.98
2011 0.79
2012 0.9
2013 0.87
2014 0.73
2015 0.79
2016 0.76
2017 0.78
2018 0.73
2019 0.64
2020 0.6

Largest economies by external balance (% of GDP)

Top 10 countries by external balance (% of GDP)

External balance on goods and services (percent of GDP)

If you want to find out which country earned or lost on trade with foreigners, then the best way to do it is to compare the value of export and import, and then see the difference. If the export was larger, then the country has earned on trade. If; however, the import was larger, then we are dealing with negative external balance.

Obviously, the numbers themselves may not represent the real balance between one country and another. For example, hundreds of millions may be quite a lot for small countries such as Oman or Puerto Rico. However, the same number for such giants as China or the United States make slight or no difference at all. This is why it is a good idea to look at external balance on goods and services based on the % of GDP of a given country.

The most significant earnings - which countries?

If we take into account the total GDP of a country, then we can notice that the first three regions that earned the most are Macao SAR in China, Luxembourg, and, surprisingly, Gabon. The presented data come from information collected in 2019.

Macao SAR, an administrative region with completely different regulations and laws, had a positive balance equal to 50% of the total GDP. In numbers, it was $27 billion. Luxembourg, the second position in our ranking, had earnings at around 36%, which was $25.5 billion. Interestingly, Gabon earned approximately $5 billion, but due to its small GDP, it was 29%.

What about the biggest losers?

In 2019, Somalia lost $4.3 billion, which was -88% of their total GDP. The second place belongs to Liberia with the loss of -70% of their total GDP. It was around $2 billion. Nauru is closing the ranking with the balance of -60%. Interestingly, it was “only” $70 million.