Those 167 countries 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, 62 of all global traders generated a positive trade balance during 2022.
Trade Surpluses by Country
The following trade entities earned a collective trade surplus totaling an overall US$3.062 trillion during 2022.
| Rank | Trade Entity | Trade Surplus | 2021-2 |
|---|---|---|---|
| 1. | China | $877,602,696,000 | +27.9% |
| 2. | Russia | $370,774,571,000 | +86.5% |
| 3. | Saudi Arabia | $238,244,470,000 | +106.8% |
| 4. | Norway | $164,398,647,000 | +165.8% |
| 5. | Australia | $112,052,313,000 | +15.9% |
| 6. | Vietnam | $105,496,473,000 | +1993% |
| 7. | Qatar | $97,485,461,000 | +64.6% |
| 8. | Germany | $87,385,783,000 | -58% |
| 9. | Iraq | $85,047,376,000 | +227.9% |
| 10. | Ireland | $71,390,255,000 | -2.5% |
| 11. | Kuwait | $63,759,550,000 | +104.1% |
| 12. | United Arab Emirates | $62,687,270,000 | -19.2% |
| 13. | Brazil | $61,761,345,000 | +0.6% |
| 14. | Oman | $58,299,031,000 | +328.8% |
| 15. | Malaysia | $58,056,659,000 | -4.8% |
| 16. | Netherlands | $57,504,624,000 | -21.8% |
| 17. | Indonesia | $54,532,046,000 | +51.9% |
| 18. | Switzerland | $45,348,843,000 | -19.1% |
| 19. | Taiwan | $40,916,512,000 | -36.7% |
| 20. | Singapore | $39,561,838,000 | -22.2% |
| 21. | Kazakhstan | $34,347,972,000 | +81.7% |
| 22. | Angola | $33,557,888,000 | +49.9% |
| 23. | Algeria | $32,969,284,000 | +2054% |
| 24. | Canada | $29,359,374,000 | +107% |
| 25. | Azerbaijan | $23,606,771,000 | +124.8% |
| 26. | Libya | $22,169,588,000 | +45.1% |
| 27. | Belgium | $12,135,093,000 | -28.4% |
| 28. | Argentina | $12,105,687,000 | -17.4% |
| 29. | South Africa | $11,736,605,000 | -61% |
| 30. | Papua New Guinea | $11,293,395,000 | +119.1% |
| 31. | Turkmenistan | $10,793,504,000 | -841.1% |
| 32. | Equatorial Guinea | $8,429,827,000 | +100.6% |
| 33. | Congo | $7,567,739,000 | +70449% |
| 34. | Trinidad/Tobago | $7,018,274,000 | +146.7% |
| 35. | Bahrain | $6,717,680,000 | +924.2% |
| 36. | Gabon | $6,440,047,000 | +46.2% |
| 37. | Czech Republic | $5,213,788,000 | -64.5% |
| 38. | Brunei Darussalam | $5,049,500,000 | +51.3% |
| 39. | Mongolia | $3,810,854,000 | +58.9% |
| 40. | Denmark | $3,327,618,000 | +3% |
| 41. | Chad | $2,962,221,000 | +74.3% |
| 42. | Nigeria | $2,851,072,000 | -158.5% |
| 43. | Zambia | $2,641,355,000 | -35.7% |
| 44. | Guinea | $2,599,412,000 | -45.4% |
| 45. | Democratic Rep. Congo | $2,521,572,000 | -75.7% |
| 46. | Ecuador | $2,331,438,000 | +324.4% |
| 47. | Laos | $1,533,549,000 | +18.6% |
| 48. | Suriname | $776,155,000 | -14.7% |
| 49. | Bolivia | $603,407,000 | -59% |
| 50. | Greenland | $469,388,000 | -3.9% |
| 51. | Eswatini | $361,400,000 | -764.5% |
| 52. | Tokelau | $343,290,000 | +1630% |
| 53. | Falkland Is (Malvinas) | $289,959,000 | +48.3% |
| 54. | Botswana | $271,875,000 | -127.7% |
| 55. | Eritrea | $242,740,000 | -26.6% |
| 56. | New Caledonia | $221,679,000 | -205.4% |
| 57. | Nauru | $140,074,000 | +44.5% |
| 58. | Faroe Islands | $49,820,000 | -77.9% |
| 59. | Micronesia | $41,848,000 | -40.4% |
| 60. | Solomon Islands | $34,830,000 | -23.6% |
| 61. | Bouvet Island | $350,000 | -2288% |
| 62. | British Antarctic Terr | $8,000 | -94.4% |
Year over year, the fastest-increasing trade surpluses belong to Congo (up 70,449% from 2021), Algeria (up 2,054%), Vietnam (up 1,993%), Tokelau (up 1,630%), Bahrain (up 924.2%), Oman (up 328.8%) then Ecuador (up 324.4%).
Among the world’s biggest economies, mainland China’s trade surplus expanded by 27.9% from 2021 to 2022 while Germany’s black ink from international trade shrank by -58% reduction.
In contrast, strong petroleum exporters Russia (up 86.5%) and Saudi Arabia (up 168.5%) grew their respective trade surpluses in 2022 compared to 2021.
Trade Deficits by Country
One hundred and sixty-seven trade entities recorded deficits for 2022, outpacing the 62 countries, islands, territories or other geographic that earned surpluses over the same timeframe.
Collectively, the overall trade deficit for these 167 geographies totaled a sum equal to -US$3.585 trillion for 2022.
Out of the 167 trade entities that registered a deficit in 2022, the vast majority (114) expanded their negative trade balances compared to the amount of international red ink for 2021.
| Rank | Trade Entity | Trade Deficit | 2021-2 |
|---|---|---|---|
| 1. | United States | -$1,313,010,925,000 | +11.2% |
| 2. | United Kingdom | -$285,818,339,000 | +25.9% |
| 3. | India | -$279,881,779,000 | +59.4% |
| 4. | France | -$204,827,905,000 | +52.9% |
| 5. | Japan | -$153,026,533,000 | +841.2% |
| 6. | Türkiye | -$109,539,088,000 | +137.3% |
| 7. | Spain | -$74,769,014,000 | +116.7% |
| 8. | Philippines | -$66,960,098,000 | +34.5% |
| 9. | Hong Kong | -$57,611,332,000 | +37.8% |
| 10. | South Korea | -$47,781,585,000 | -262.5% |
| 11. | Italy | -$42,715,160,000 | -189.5% |
| 12. | Greece | -$40,402,271,000 | +34.5% |
| 13. | Pakistan | -$39,928,759,000 | -9.7% |
| 14. | Colombia | -$38,462,399,000 | +86.6% |
| 15. | Romania | -$35,869,961,000 | +28.1% |
| 16. | Israel | -$33,499,329,000 | +4.7% |
| 17. | Portugal | -$32,681,809,000 | +41.5% |
| 18. | Egypt | -$31,563,495,000 | -4.6% |
| 19. | Morocco | -$30,501,196,000 | +38.1% |
| 20. | Mexico | -$26,332,978,000 | +120% |
| 21. | Thailand | -$22,154,205,000 | +1276% |
| 22. | Austria | -$21,667,063,000 | +33.7% |
| 23. | Croatia | -$18,731,885,000 | +57.3% |
| 24. | Dominican Republic | -$17,599,707,000 | +16.5% |
| 25. | Bangladesh | -$17,232,657,000 | -23.6% |
| 26. | Guatemala | -$16,292,911,000 | +25.2% |
| 27. | Macao | -$16,063,808,000 | -10.5% |
| 28. | Poland | -$15,747,939,000 | -10.6% |
| 29. | Lebanon | -$15,637,954,000 | +62.4% |
| 30. | Marshall Islands | -$15,071,287,000 | +18.2% |
| 31. | Panama | -$13,782,542,000 | +90.8% |
| 32. | Kenya | -$13,736,958,000 | +9.5% |
| 33. | Ethiopia | -$13,460,715,000 | +10% |
| 34. | Uzbekistan | -$12,977,072,000 | +33.9% |
| 35. | Nepal | -$12,416,826,000 | -12.1% |
| 36. | Iran | -$11,361,209,000 | -151.2% |
| 37. | Finland | -$11,203,209,000 | +135.2% |
| 38. | Serbia | -$11,190,951,000 | +36% |
| 39. | Ukraine | -$10,780,854,000 | +126% |
| 40. | New Zealand | -$10,679,867,000 | +71.5% |
| 41. | Jordan | -$10,585,878,000 | -13.1% |
| 42. | Gibraltar | -$10,402,167,000 | +45.7% |
| 43. | El Salvador | -$9,992,905,000 | +0.1% |
| 44. | Cambodia | -$9,365,829,000 | -15.9% |
| 45. | Luxembourg | -$9,258,003,000 | -0.3% |
| 46. | Hungary | -$8,832,800,000 | -536.2% |
| 47. | Tanzania | -$8,829,601,000 | +97% |
| 48. | Lithuania | -$8,608,249,000 | +127.8% |
| 49. | Bulgaria | -$7,841,384,000 | +56% |
| 50. | Cyprus | -$7,477,417,000 | +19.8% |
| 51. | Kyrgyzstan | -$7,442,357,000 | +90.3% |
| 52. | Yemen | -$7,274,049,000 | -24.6% |
| 53. | Slovakia | -$7,202,507,000 | +1663% |
| 54. | Chile | -$6,639,842,000 | +191.2% |
| 55. | Senegal | -$6,404,182,000 | +68.6% |
| 56. | Djibouti | -$6,337,202,000 | +0.8% |
| 57. | Mozambique | -$6,313,175,000 | +79.8% |
| 58. | Georgia | -$6,150,697,000 | +39.6% |
| 59. | Venezuela | -$6,093,657,000 | +29.6% |
| 60. | Jamaica | -$6,011,885,000 | +32.6% |
| 61. | Costa Rica | -$5,823,894,000 | +42.6% |
| 62. | Bosnia/Herzegovina | -$5,704,271,000 | +29.2% |
| 63. | Latvia | -$5,368,915,000 | +48% |
| 64. | Malta | -$5,302,235,000 | +30% |
| 65. | Mauritius | -$5,237,981,000 | +49.9% |
| 66. | Moldova | -$4,883,989,000 | +21.1% |
| 67. | Honduras | -$4,640,877,000 | -30.3% |
| 68. | Sri Lanka | -$4,530,532,000 | -44.6% |
| 69. | Sweden | -$4,518,093,000 | -295.1% |
| 70. | Sudan | -$4,283,882,000 | +61.5% |
| 71. | Slovenia | -$4,243,873,000 | +78.7% |
| 72. | Paraguay | -$4,214,025,000 | +367.6% |
| 73. | Albania | -$4,101,110,000 | -1.7% |
| 74. | North Macedonia | -$4,025,828,000 | +25.7% |
| 75. | Mali | -$3,938,738,000 | -204.1% |
| 76. | Nicaragua | -$3,886,998,000 | +6% |
| 77. | Estonia | -$3,857,301,000 | +103% |
| 78. | Syria | -$3,713,145,000 | -13.4% |
| 79. | Somalia | -$3,395,041,000 | -26.4% |
| 80. | Maldives | -$3,364,310,000 | +38.5% |
| 81. | Niger | -$3,341,091,000 | +55.3% |
| 82. | Armenia | -$3,327,076,000 | +41% |
| 83. | Bahamas | -$3,183,583,000 | +8.3% |
| 84. | Afghanistan | -$3,115,272,000 | -42% |
| 85. | Montenegro | -$2,986,099,000 | +44.4% |
| 86. | Haiti | -$2,938,451,000 | -8.3% |
| 87. | Zimbabwe | -$2,908,515,000 | +88.7% |
| 88. | Tajikistan | -$2,852,825,000 | +17.4% |
| 89. | Ghana | -$2,684,807,000 | -55.1% |
| 90. | Benin | -$2,511,711,000 | +5.1% |
| 91. | Cayman Islands | -$2,448,918,000 | +61% |
| 92. | Tunisia | -$2,420,299,000 | -55% |
| 93. | Iceland | -$2,340,326,000 | +25.5% |
| 94. | Cuba | -$2,299,336,000 | -13.8% |
| 95. | Peru | -$2,074,067,000 | -140.8% |
| 96. | French Polynesia | -$2,073,751,000 | +11% |
| 97. | Madagascar | -$1,969,165,000 | +18.5% |
| 98. | US Minor Outlying Islands | -$1,960,794,000 | +144.2% |
| 99. | Namibia | -$1,952,965,000 | -1.6% |
| 100. | Fiji | -$1,945,280,000 | +49.5% |
| 101. | Rwanda | -$1,931,706,000 | -11.2% |
| 102. | Curaçao | -$1,918,611,000 | +50.5% |
| 103. | Uruguay | -$1,783,433,000 | +128.8% |
| 104. | Liberia | -$1,717,764,000 | +12.3% |
| 105. | Barbados | -$1,649,899,000 | +24.7% |
| 106. | Uganda | -$1,583,066,000 | -69.1% |
| 107. | Ivory Coast | -$1,576,829,000 | -216.1% |
| 108. | Belarus | -$1,560,692,000 | -18.8% |
| 109. | Andorra | -$1,478,298,000 | +5.6% |
| 110. | Togo | -$1,446,365,000 | +1.6% |
| 111. | Palestine | -$1,421,079,000 | -78% |
| 112. | Aruba | -$1,368,620,000 | +26.6% |
| 113. | Mauritania | -$1,341,792,000 | +126.1% |
| 114. | Saint Lucia | -$1,268,667,000 | -12.2% |
| 115. | Gambia | -$1,253,123,000 | +83.6% |
| 116. | Bermuda | -$1,158,731,000 | +12.9% |
| 117. | Belize | -$1,091,752,000 | +36.5% |
| 118. | Burkina Faso | -$1,083,074,000 | -410.1% |
| 119. | Pitcairn | -$1,035,712,000 | -42032% |
| 120. | Burundi | -$1,014,793,000 | +16.9% |
| 121. | Lesotho | -$964,209,000 | +12.8% |
| 122. | Bhutan | -$956,889,000 | +26.3% |
| 123. | British Virgin Islands | -$877,085,000 | -54.2% |
| 124. | Bonaire/St Eustatius/Saba | -$833,545,000 | +50.6% |
| 125. | Seychelles | -$831,831,000 | +4.9% |
| 126. | Cabo Verde | -$789,976,000 | +10% |
| 127. | Cameroon | -$712,300,000 | -73.3% |
| 128. | Guyana | -$690,943,000 | -810.9% |
| 129. | Turks/Caicos Islands | -$628,118,000 | +51.6% |
| 130. | Malawi | -$612,139,000 | -71% |
| 131. | Antigua/Barbuda | -$601,145,000 | +30.5% |
| 132. | North Korea | -$600,530,000 | +394.3% |
| 133. | Grenada | -$551,798,000 | +34.1% |
| 134. | Central African Republic | -$511,701,000 | +19% |
| 135. | Timor-Leste | -$461,688,000 | +450% |
| 136. | Samoa | -$437,423,000 | +28.2% |
| 137. | Sierra Leone | -$414,883,000 | -33.9% |
| 138. | Saint Vincent/Grenadines | -$393,020,000 | +16.3% |
| 139. | Dominica | -$373,890,000 | +112.2% |
| 140. | Saint Kitts/Nevis | -$324,898,000 | +52.7% |
| 141. | Myanmar | -$318,846,000 | -138.8% |
| 142. | Tonga | -$231,154,000 | +11.8% |
| 143. | Comoros | -$209,609,000 | -48.6% |
| 144. | Vanuatu | -$202,216,000 | +597.1% |
| 145. | Palau | -$174,597,000 | +42.4% |
| 146. | Sao Tome/Principe | -$173,710,000 | +18.1% |
| 147. | Guinea-Bissau | -$173,628,000 | -17.3% |
| 148. | Anguilla | -$153,408,000 | +28.1% |
| 149. | Western Sahara | -$153,145,000 | +401.9% |
| 150. | Northern Mariana Is | -$151,663,000 | +145.8% |
| 151. | Sint Maarten (Dutch) | -$140,223,000 | +11.9% |
| 152. | Cook Islands | -$123,618,000 | -2.1% |
| 153. | American Samoa | -$85,750,000 | +64.7% |
| 154. | Kiribati | -$79,838,000 | -51.6% |
| 155. | Tuvalu | -$73,369,000 | +444.2% |
| 156. | South Sudan | -$64,445,000 | -91.4% |
| 157. | Saint Pierre/Miquelon | -$61,471,000 | -7.6% |
| 158. | Wallis/Futuna Islands | -$59,263,000 | +18.2% |
| 159. | Guam | -$50,801,000 | +37.3% |
| 160. | British Indian Ocean Territory | -$50,505,000 | -16.2% |
| 161. | Christmas Island | -$37,561,000 | +44.7% |
| 162. | Montserrat | -$32,592,000 | +0% |
| 163. | French South/Antarctic Terr | -$32,555,000 | -45.9% |
| 164. | Norfolk Island | -$31,307,000 | -8.9% |
| 165. | Niue | -$24,443,000 | +14% |
| 166. | Cocos (Keeling) Islands | -$9,832,000 | +75.3% |
| 167. | Saint Helena | -$3,241,000 | -71.1% |
Year over year, the fastest-increasing trade deficit was posted by Slovakia via its 1,663% increase in red ink.
Thailand incurred the second-highest expansion in negative trade balance (up 1,276% from 2021) ahead of Japan (up 841.2%).
The country recording the greatest trade deficit, the United States of America, grew by 11.2% from 2021 to 2022.
Research Sources:
Investopedia, Net Exports Definition. Accessed on October 5, 2023
International Trade Centre Trade Map,. Accessed on October 5, 2023
Wikipedia, Balance of trade. Accessed on October 5, 2023