The Export Dependency of Major Economies

What We’re Showing

This infographic ranks major economies by their export dependency, measured as exports as a share of nominal GDP in 2023. 

The data comes from U.N. Comtrade and was sourced via a report by J.P. Morgan Asset Management. 

Key Takeaways

• South Korea and the European Union are among the most export-reliant, with exports making up 37% and 38% of their GDP in 2023, respectively.
• In North America, Mexico stands out with a high export-to-GDP ratio of 33%. Notably, the U.S. accounted for 75% of Mexico’s total exports in 2023.
• Despite being the world’s largest goods exporter, China’s export share of GDP is relatively modest at 19%. In 2023, China exported goods worth $3.42 trillion, with the U.S. as its top destination, receiving nearly 13% of Chinese exports.
• The United States, the world’s largest economy, is the least export-reliant among major countries, with exports making up just 7% of GDP, underscoring its consumption-driven economy.
• With rising protectionism and trade tensions in 2025, export-reliant economies may face relatively greater headwinds this year, especially in light of the reciprocal tariffs by the Trump administration.