Leading Countries by Trade Surplus 2023 (Top 64)

Trade surpluses are key to understanding global economics and how countries position themselves in the world economy. A trade surplus happens when a nation exports more than it imports—basically, it sells more to the world than it buys, bringing money back into its own economy. In 2023, this global landscape was shaped by energy giants, advanced manufacturing hubs, and nimble economies that made the best use of their resources and geography. Here is a look at the top trade surplus countries, presented in straightforward language and with valuable facts for everyone.​​

China: Surplus Leader

China led the world by a considerable margin, with a trade surplus of $823,222.66 million in 2023. This alone shows how strong China’s export engine is.​

• Electronics, machinery, clothing, and household goods power China’s exports.
• Their main trading partners are the US, EU, and ASEAN countries.
• China has modern factories and a massive workforce, enabling it to produce goods faster and cheaper.
• While local spending is going up, exports are still much larger than imports.
• This surplus means economic growth, but it also creates tensions with countries that have large trade deficits with China.

Germany: Export-Driven Economy

Germany posted a $225,817.48 million surplus in 2023, second in the world.​

• Famous for cars, Germany also leads in machinery, chemicals, and medical equipment.
• Most exports go to nearby EU countries, but the US and China are also important customers.
• Small and medium companies, “Mittelstand,” keep Germany’s supply chain moving.
• Germany buys a lot of energy and raw materials but transforms these into high-value products for export.
• Despite some tough economic years, German exports remain strong and competitive.

Russia: Energy Giant

Russia’s surplus was $120,129.00 million in 2023, primarily because of energy exports.​

• Exports: oil, natural gas, metals, and agriculture.
• Europe and Asia are the main buyers, although recent sanctions have shifted some trade to China and India.
• Defense products and manufactured goods are less important but are still exported.
• The value of Russia’s exports changes with fluctuations in energy prices and currency exchange rates.
• Russia’s trade policy is adapting due to global political changes.

Saudi Arabia: Oil-Driven Surplus

Saudi Arabia had a trade surplus of $111,227.30 million in 2023.​

• Most revenue comes from crude oil and petrochemicals.
• Surplus size depends heavily on global oil prices and on OPEC+ production limits.
• Saudi Arabia is trying to grow new export sectors, but progress is slow.
• Some surplus is invested internationally by significant government funds.
• Oil prices include a substantial impact on the country’s budget and financial stability.

Netherlands: The Gateway

The Netherlands’ $92,516.50 million surplus comes from its role as a logistics crossroads in Europe.​

• Rotterdam is Europe’s largest port, moving enormous volumes of goods.
• Agricultural exports are significant—flowers, cheese, vegetables, plus chemicals and machinery.
• A large part of the surplus comes from goods imported, lightly processed, and then re-exported.
• Top-notch infrastructure helps speed up trade.
• EU membership creates it easier to trade with neighbors.

Brazil: Resource Exporter

Brazil’s surplus of $86,985.31 million in 2023 marks it as Latin America’s trade leader.​

• Exports: soybeans, coffee, beef, and iron ore.
• China is Brazil’s largest export market.
• The country is slowly adding more technology and industrial goods to its exports.
• Exchange rates and export taxes can swing surplus amounts.
• Reliance on commodities can help in boom years, but creates risks when prices fall.

Australia: Minerals to the World

Australia had a surplus of $83,126.09 million, grounded in mining and agriculture.​

• Iron ore, coal, natural gas, and gold are the most significant contributors.
• Sales to China, Japan, Korea, and India make up the bulk of exports.
• Services like education also contribute, but they are smaller in scale compared to resources.
• The Australian dollar often rises and falls along with global commodity prices.
• Resource wealth shields Australia from global shocks.

Norway: Oil, Gas, and Fish

Norway’s surplus was $78,613.70 million, thanks to natural resources.​

• Oil and gas exports dominate, with seafood (mostly salmon) as another major product.
• Trade surplus helps fund Norway’s “oil fund”—one of the world’s most significant savings funds.
• A small population means higher per-person gains from exports.
• Norway balances oil revenue with strong environmental policies.

Taiwan: High-Tech Hub

Taiwan scored a $73,376.85 million surplus in 2023, mostly from technology exports.​

• Key export: semiconductors, along with other electronics.
• Main export markets: the US, China, and Southeast Asia.
• A substantial trade surplus stabilizes the Taiwan dollar.
• Taiwan invests heavily in research and development.
• The country faces challenges from global chip demand and geopolitics.

Qatar: LNG Leader

Qatar’s surplus was $66,437.37 million, driven by liquefied natural gas (LNG).​

• One of the world’s largest LNG exporters.
• Dependable trade with Japan, Korea, and India.
• Non-energy export sectors are small but growing.
• Substantial surplus gives Qatar high per-person incomes.
• The government spends its surplus on public projects and investments.

Ireland: Tech and Pharma

Ireland’s $62,433.61 million surplus reflects unique export strengths.​

• Main exports: pharmaceuticals, medical equipment, and tech services.
• Big US companies set up shop in Ireland to take advantage of favorable tax rates.
• Most exports go to the EU, the US, and the UK.
• Profit shifting by multinationals can inflate export figures.
• Ireland debates the fairness of multinationals’ high-value exports.

Switzerland: Quality Goods

Switzerland had a surplus of $56,071.56 million in 2023.​

• Leading exports: pharmaceuticals, watches, machinery, and financial services.
• The Swiss franc is seen as reliable because of consistent surpluses.
• Global markets in Europe, North America & Asia buy Swiss goods.
• Swiss products are known for high standards and innovation.

Singapore: Trade and Finance Hub

Singapore’s $52,803.61 million surplus proves it is Asia’s top spot.​

• Electronics, chemicals, and refined petroleum make up most exports.
• Singapore acts as a re-export center, moving goods to and from Asia.
• A friendly business climate and free trade deals help drive export growth.
• Many international companies choose Singapore for their headquarters.
• Modern ports and logistics are key to its success.

Kuwait: More Than Just Oil

Kuwait posted a $48,030.58 million surplus, mostly from oil sales.​

• Oil and petroleum products make up 85%+ of export revenue.
• Asian countries buy most exports.
• Government is working to diversify exports, but oil remains central.
• State investments turn excess revenue into future wealth.

Malaysia: Diverse Export Economy

Malaysia’s surplus was $47,090.81 million in 2023, from a mix of manufacturing and resources.​

• Electronics, palm oil, and petroleum are Malaysia’s strongest exports.
• China, Singapore, and the US are key trading partners.
• The government promotes industry upgrades and digitalization.
• A trade surplus helps stabilize the currency and supports growth.

Final Thoughts

The story of trade surpluses is about much more than numbers. It’s about economic strategy, natural resources, and each country’s way of getting ahead in global competition. China’s lead is huge, but countries across regions have found their formula—whether through oil, manufacturing, farming, or technology. The 2023 data provides a map of who’s succeeding, how they’re succeeding, and what challenges might lie ahead.​​

What this means for you: If you analyze international data, work in business, or create content in New York, these rankings offer a benchmark of which countries are winning at trade and why. Use these insights to compare markets, evaluate models, or bring real stories to life using factual trade numbers. It’s a quick look at how exporting power translates to economic strength worldwide.

Here is a full list of Leading Countries by Trade Surplus 2023:

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