For dozens of years, exports have been a key element in the economies of most developed nations. But which are the leading nations by total dollar exports? How have these countries evolved from 1970 to 2019? In today’s article we are going to discover the Top 15 Nations by total exports of goods and services. The analysis is done using data in the World Bank database.
Top 15 Countries by Total Exports – 1970/2019
In 1970, world exports of dollars totaled 345 billion. The leading nation in the world was the United States. In fact, this country had a total of nearly 60 billion in exports of goods and services. In second place were Germany, with over 32 billion and Great Britain with over 28. In the video below you can see the top 15 states. As you can see most of the nations were part of Europe. Of the 15 in fact, 11 were from Europe. In the Top 15 in fact there were also France, Italy, Holland, Belgium, Spain and the countries of Northern Europe.
In 2019, the situation has changed for a great many states. The first nation in the world for exports for example is no longer the United States but China. In fact with 2,641,270,000,000 dollars China has become the first country in the world for exports. The United States is firmly in second place, about 127 billion dollars behind, and in third place is Germany. Some European countries have remained in the top 15 such as the UK, France, Holland, Italy and Ireland. But compared to the 1970s, Korea, Hong Kong, Singapore, India and Mexico have entered the market.
The 1970 to 2019 comparison by total exports
Below I have created two graphics summarizing the top 9 countries in the world by export in 1970 and 2019. As you can see it’s amazing how the Asian countries have developed in a short time. In just 50 years China has become the first country in the world. But within the Top 9 we also see Korea and Hong Kong.
In 1970 total exports were 345 billion. 14.2% of the total was exported by the United States with 59 total billions. In total the top 9 nations in the world covered over 66% of the total.
In 2019 the situation has changed completely. We’re talking trillions and no longer billions, and in general the total trillions exported worldwide is more than 24. Interestingly, although the figures have grown a lot for individual nations, the top 9 nations cover 48% total exports. A figure decidedly lower than the 66% of 1970. A sign that many nations have begun to export more than in the past.
Export in the world in the last 50 years
To see how the export of goods and services has grown worldwide, it is useful to see this graph. Especially since the 1990s, growth has been very strong. Except for a few special moments such as the financial crisis of 2008 and the European crisis of 2013 the trend was almost always positive. In 2019, however, it was slightly down. In 2020 it will be interesting to see, once published, the data that will probably be down sharply due to the Pandemic.
Source and link
I used World Bank sources to create this article: https://data.worldbank.org/indicator/NE.EXP.GNFS.CD
Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.
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