Raking It In: The Biggest Trade Gainers

International trade drives economic growth and connects the world. And it has a way of rewarding scale. The two economies that saw the largest absolute trade growth over the past five years — China and the United States — also happen to be the world’s largest traders. Between them, they added nearly $1.5 trillion to global trade since 2019. China alone accounted for 18% of total trade growth, while the U.S. made up 14%.

India, by contrast, is climbing the trade ranks not just by size but by speed. Though only the world’s 13th largest trader, India added $261 billion to global trade —  third-most overall — thanks to a 5.2% annual growth rate, well above the global average of 2.0%. Its rising trade-to-GDP ratio suggests the country is integrating into global commerce at a pace that may soon challenge longer-established trading powers.

A glaring omission from the leaderboard? European heavyweights, such as Germany and the Netherlands, are nowhere near the top. Among the biggest contributors to global trade growth, these economies have lagged, weighed down by sluggish GDP growth, geopolitical disruptions, and the aftershocks of the war in Ukraine.

Meanwhile, a new cast of fast-rising traders — including South Korea, the UAE, Vietnam, and Poland — are making their presence felt. As the global trade map shifts, the coming years will reveal whether these changes are structural or merely cyclical.

Key Takeaways:

1. Economies of Scale Still Win – The U.S. and China led global trade growth in absolute terms, adding nearly $1.5 trillion combined –  in spite of middling growth rates. Size, it seems, still matters.

2. India Rises – India’s trade grew at 5.2% annually – more than double the global average, securing its place as a key driver of future trade expansion.

3. Europe lags – Typically trade powerhouses – Germany and the Netherlands are absent from the top ranks, bogged down by slow growth and geopolitical headwinds.

4. New Players – Emerging economies like South Korea, the UAE, Vietnam, and Poland are gaining ground – a significant shift in global trade dynamics.

Data Source:

DHL Trade Atlas 2025. Additional data from EIU, IMF, Oxford Economics, and S&P Global.

Note: Figures are in billions of U.S. dollars, expressed in constant 2023 prices.