Markets
Mapped: The Top Export in Every Country
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Mapped: The Top Export in Every Country
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Today, exports make up roughly 25% of total global production.
One of the common influences on these exports, unsurprisingly, is oil. In fact, petroleum is the top export across over 50 nations, and along with many other resource-driven materials makes up a sizable share of the global export market. Since 2000, the total value of all exported global trade of goods and services has tripled to $19.5 trillion.
This infographic from HowMuch.net shows the top export in every country by value, according to the most recent global data from 2018.
Top Exports, by Region
Let’s dive into some particular regions, to see how top exports can vary:
Editor’s note: for even larger versions of each regional infographic below, visit HowMuch.net. All export data is from 2018 and comes from CEPII, a leading French center of economic analysis.
North America
In the U.S. petroleum outpaces all other exports, with crude oil accounting for 35% of total petroleum exports. Canada too, lists petroleum at the top.
Country | Top Export |
---|---|
Canada | Petroleum |
Greenland | Fish |
Mexico | Cars |
Saint Pierre and Quelon | Crustaceans |
U.S. | Petroleum |
With a market valued at $50.7 billion, Mexico’s top export is cars—making it the fourth largest exporter worldwide.
Africa
From Egypt to Senegal, Africa has a diverse spectrum of exports. Primarily, these are resource-driven, with the top five exports being petroleum, gold, diamonds, natural gas, and coal.
Country | Top Export |
---|---|
Algeria | Petroleum |
Angola | Petroleum |
Benin | Cotton |
Burkina Faso | Gold |
Burundi | Gold |
Cabo Verde | Fish |
Cameroon | Petroleum |
Central African Republic | Wood |
Chad | Petroleum |
Comoros | Cloves |
Congo | Petroleum |
Cote D'Ivoire | Cocoa Beans |
Dijibouti | Sheep and goats |
DR Congo | Copper |
Egypt | Petroleum |
Eritrea | Zinc |
Ethiopia | Coffee |
Gambia | Nuts |
Ghana | Gold |
Guinea | Gold |
Guinea-Bissau | Nuts |
Kenya | Tea |
Liberia | Gold |
Libya | Petroleum |
Madagascar | Vanilla |
Malawi | Tobacco |
Mali | Gold |
Mauritania | Iron |
Mauritus | Fish |
Morocco | Cars |
Mozambique | Cloves |
Niger | Gold |
Nigeria | Petroleum |
Rwanda | Gold |
Senegal | Gold |
Seychelles | Fish |
Sierra Leone | Titanium |
Somalia | Sheep and goats |
South African Customs Union | Gold |
South Sudan | Petroleum |
St. Helena | Blood |
Sudan | Petroleum |
Tanzana | Gold |
Togo | Petroleum |
Tunisia | Wires |
Uganda | Gold |
Zambia | Copper |
Zimbabwe | Gold |
Meanwhile, Ethiopia’s top export is coffee, shipping nearly $1 billion alone in 2018. Similarly, off the east coast, Madagascar is the world’s largest producer of vanilla.
Asia
While petroleum is also a dominant export across many countries in Asia, the region’s export landscape is a lot more tech-focused.
In South Korea, electronic circuits are the largest export. Samsung, headquartered in Seoul, is a major supplier to Apple for multiple electronic components. With one of the highest export ratios in Asia, 40% of South Korea’s economic output is derived from its export market.
Here are the top exports across other Asian countries.
Country | Top Export |
---|---|
Afghanistan | Grapes |
Armenia | Copper |
Azerbaijan | Petroleum |
Bahrain | Petroleum |
Bangladesh | Suits |
Bhutan | Ferro-alloys |
Br. Indian Ocean Terr. | Fish |
Brunei Darussalam | Petroleum |
Cambodia | Jerseys |
China | Transmission apparatus |
DPR Korea | Watches |
Georgia | Copper |
Hong Kong SAR | Gold |
Indonesia | Coals |
Iran | Petroleum |
Iraq | Petroleum |
Israel | Diamonds |
Japan | Cars |
Jordan | Fertilizers |
Kazakhstan | Petroleum |
Kuwait | Petroleum |
Kyrgyzstan | Gold |
Laos | Electrical energy |
Lebanon | Gold |
Macao SAR | Watches |
Malaysia | Electronic circuits |
Maldives | Fish |
Mongolia | Coals |
Myanmar | Petroleum |
Nepal | Yarn |
Oman | Petroleum |
Pakistan | Bed linen |
Philippines | Electronic circuits |
Qatar | Petroleum |
Saudi Arabia | Petroleum |
Singapore | Electronic circuits |
South Korea | Electronic circuits |
Sri Lanka | Tea |
State of Palestine | Stones |
Syria | Olive oil |
Tajikistan | Gold |
Thailand | Machinery |
Turkmenistan | Petroleum |
Turkey | Cars |
UAE | Petroleum |
Uzbekistan | Gold |
Vietnam | Transmission apparatus |
Yemen | Petroleum |
In Afghanistan, grapes are the top export, valued at $237 million. Almost one-fifth of Afghanistan’s exports come from the grape industry.
Europe
Across the European continent, the automotive industry stands out as a primary driver of exports, with 14 countries having cars or vehicles as their most exported good.
In fact, in 2019, the European Union exported a total of 5.6 million motor vehicles. Of these, 28% were shipped to the U.S. and 16.5% to China.
Country | Top Export |
---|---|
Albania | Footwear |
Andorra | Electronic circults |
Austria | Cars |
Belarus | Petroleum |
Belgium | Cars |
Bosnia Herzegovina | Electrical energy |
Bulgaria | Petroleum |
Croatia | Petroleum |
Cyprus | Petroleum |
Czech Republic | Cars |
Denmark | Drugs |
Estonia | Transmission apparatus |
Finland | Petroleum |
France | Airplanes |
Germany | Cars |
Gibraltar | Petroleum |
Greece | Petroleum |
Hungary | Cars |
Iceland | Aluminium |
Ireland | Blood |
Italy | Drugs |
Latvia | Wood |
Lithuania | Petroleum |
Luxembourg | Cars |
Malta | Petroleum |
Moldova | Wires |
Montenegro | Aluminium |
Netherlands | Petroleum |
Norway | Petroleum |
Poland | Vehicles |
Portugal | Cars |
Romania | Vehicles |
Russia | Petroleum |
San Marino | Machines |
Serbia | Wires |
Slovakia | Cars |
Slovenia | Cars |
Spain | Cars |
Sweden | Cars |
Switzerland | Gold |
TFYR of Macedonia | Reaction initiators |
U.K. | Cars |
Ukraine | Sun-Flower Seed |
The Balkan nation of Albania has footwear as its top export. Overall, nearly 80% of the nation’s GDP relies on goods and services exports.
France, on the other hand, has airplanes as its highest export while Italy and Denmark’s highest are drugs. Italy is the top producer of pharmaceuticals in Europe, an industry which employs 66,500 across the country. Globally, it makes up 2.8% of pharmaceutical sales.
Due to its cheap electricity prices, companies have flocked to Iceland to produce aluminum. Iceland’s dams, which generate power from glacial water, produce electricity as much as 30% cheaper than in America.
Latin America & the Caribbean Islands
Like other regions, petroleum stands out as a key export in countries across Latin America.
Take Venezuela. With the largest oil reserves in the world, its oil exports were valued at $90 billion annually ten years ago. Since the pandemic, however, earnings are projected to reach just a fraction of this total—only $2.3 billion this year.
Along with this, the U.S. has imposed sanctions on president Nicolás Maduro and Venezuela’s state oil company, PDVSA, causing oil exports to slump to their lowest point in nearly 80 years.
Country | Top Export |
---|---|
Anguilla | Ethyl alcohol |
Antigua and Barbuda | Cruise ships |
Argentina | Oil |
Aruba | Airplanes |
Bahamas | Cruise ships |
Barbados | Ethyl alcohol |
Belize | Cane sugar |
Bolivia | Petroleum |
Bonaire | Petroleum |
Brazil | Soya beans |
British Virgin Islands | Yachts |
Cayman Islands | Yachts |
Chile | Copper |
Colombia | Petroleum |
Costa Rica | Medical instruments |
Cuba | Cigars |
Curacao | Petroleum |
Dominica | Medical instruments |
Dominican Republic | Gold |
Ecuador | Petroleum |
El Salvador | T-shirts |
Falkland Is. (Malvinas) | Molluscs |
Grenada | Nutmeg |
Guatemala | Bananas |
Guyana | Gold |
Haiti | T-shirts |
Honduras | T-shirts |
Jamaica | Aluminium |
Montserrat | Sand |
Neth. Antilles | Cars |
Nicaragua | T-shirts |
Panama | Petroleum |
Paraguay | Soya beans |
Peru | Copper |
Saint Barthelemy | Cosmetics |
Saint Kitts and Nevis | Transmission apparatus |
Saint Lucia | Petroleum |
Saint Maarten | Jewellery |
Saint Vincent and the Grenadines | Petroleum |
Suriname | Gold |
Trinidad and Tobago | Petroleum |
Turks and Caicos Is. | Petroleum |
Uruguay | Wood pulp |
Venezuela | Petroleum |
For Caribbean nations, unsurprisingly, many top exports in this region are linked to tourism.
Cruise ships stood out as a primary export in the Bahamas, while yachts were most significant in the Cayman Islands. However, due to the pandemic, many of these national economies are at heightened risk, with some economies across the region projected to contract 10% in 2020.
Oceania
Finally, in Oceania, Australia had coal as it’s top export in 2018 (though it has since switched to iron ore in 2019), while New Zealand sends milk abroad.
For many of the smaller islands throughout the Pacific, it can be seen that fish, cruise ships, water, and yachts are key exports.
The Future of Trade
Now, COVID-19 and a host of other factors are changing the way the world trades. Unexpected shocks, trade wars, the carbon footprint, and labor standards are influencing firms to build more resilient supply chains.
According to The Economist, it’s estimated that over the next five years that 16-26% of exported goods production could shift locations.
Markets
Economic Growth Forecasts for G7 and BRICS Countries in 2024
The IMF has released its economic growth forecasts for 2024. How do the G7 and BRICS countries compare?
G7 & BRICS Real GDP Growth Forecasts for 2024
The International Monetary Fund’s (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024, and while global growth is projected to stay steady at 3.2%, various major nations are seeing declining forecasts.
This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations along with Saudi Arabia, which is still considering an invitation to join the bloc.
Get the Key Insights of the IMF’s World Economic Outlook
Want a visual breakdown of the insights from the IMF’s 2024 World Economic Outlook report?
This visual is part of a special dispatch of the key takeaways exclusively for VC+ members.
Get the full dispatch of charts by signing up to VC+.
Mixed Economic Growth Prospects for Major Nations in 2024
Economic growth projections by the IMF for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.
Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected real GDP growth rates in 2024 than last year.
Group | Country | Real GDP Growth (2023) | Real GDP Growth (2024P) |
---|---|---|---|
G7 | 🇺🇸 U.S. | 2.5% | 2.7% |
G7 | 🇨🇦 Canada | 1.1% | 1.2% |
G7 | 🇯🇵 Japan | 1.9% | 0.9% |
G7 | 🇫🇷 France | 0.9% | 0.7% |
G7 | 🇮🇹 Italy | 0.9% | 0.7% |
G7 | 🇬🇧 UK | 0.1% | 0.5% |
G7 | 🇩🇪 Germany | -0.3% | 0.2% |
BRICS | 🇮🇳 India | 7.8% | 6.8% |
BRICS | 🇨🇳 China | 5.2% | 4.6% |
BRICS | 🇦🇪 UAE | 3.4% | 3.5% |
BRICS | 🇮🇷 Iran | 4.7% | 3.3% |
BRICS | 🇷🇺 Russia | 3.6% | 3.2% |
BRICS | 🇪🇬 Egypt | 3.8% | 3.0% |
BRICS-invited | 🇸🇦 Saudi Arabia | -0.8% | 2.6% |
BRICS | 🇧🇷 Brazil | 2.9% | 2.2% |
BRICS | 🇿🇦 South Africa | 0.6% | 0.9% |
BRICS | 🇪🇹 Ethiopia | 7.2% | 6.2% |
🌍 World | 3.2% | 3.2% |
China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8% respectively, but compared to the previous year, China is growing 0.6 percentage points slower while India is an entire percentage point slower.
On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.
Faster Growth for BRICS than G7 Nations
Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%.
While the G7 countries’ combined GDP is around $15 trillion greater than the BRICS nations, with continued higher growth rates and the potential to add more members, BRICS looks likely to overtake the G7 in economic size within two decades.
BRICS Expansion Stutters Before October 2024 Summit
BRICS’ recent expansion has stuttered slightly, as Argentina’s newly-elected president Javier Milei declined its invitation and Saudi Arabia clarified that the country is still considering its invitation and has not joined BRICS yet.
Even with these initial growing pains, South Africa’s Foreign Minister Naledi Pandor told reporters in February that 34 different countries have submitted applications to join the growing BRICS bloc.
Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit which takes place October 22-24 in Kazan, Russia.
Get the Full Analysis of the IMF’s Outlook on VC+
This visual is part of an exclusive special dispatch for VC+ members which breaks down the key takeaways from the IMF’s 2024 World Economic Outlook.
For the full set of charts and analysis, sign up for VC+.
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