Mapped: Every G20 Economy’s Top Export Market

Pallavi Rao
2024-09-03 17:36:37
www.visualcapitalist.com

Mapped: Every G20 Economy’s Top Export Market

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The G20—a group of 19 countries and two regional unions—collectively accounts for 85% of the world economy, 75% of all exports, and 66% of the world’s population.

But who are all these major economies exporting their goods to? This graphic shows the largest export market for each G20 member, based on the share of the goods exported. Data was sourced from The Observatory of Economic Complexity, as of 2022.

Who Does the G20 Export To?

Interestingly, the U.S. and China were the primary export destinations for an equal number of G20 countries (seven each) in 2022.

Of course the percentage and value of exports they accounted for varied by country.

G20 Member	Largest Export Partner	% of Total Exports (2022)	Export Value (2022)
Australia	China	29	$123B
Brazil	China	26	$90B
Indonesia	China	21	$68B
Russia	China	21	$101B
South Korea	China	21	$150B
Saudi Arabia	China	19	$68B
South Africa	China	16	$23B
Mexico	U.S.	77	$421B
Canada	U.S.	74	$438B
Japan	U.S.	19	$137B
India	U.S.	18	$83B
China	U.S.	15	$551B
Germany	U.S.	10	$153B
UK	U.S.	13	$62B
France	Germany	13	$78B
Italy	Germany	12	$79B
Türkiye	Germany	8	$22B
U.S.	Canada	16	$308B
Argentina	Brazil	15	$13B

Note: The African Union and European Union are G20 members but for the purposes of this dataset have not been included.

There’s a distinct regional element to this breakdown. Most of the Asian countries sent the largest share of their exports to China, whereas North America and some of Europe exported primarily to the United States.

For China itself, the U.S. emerged as a key trading partner, but the reverse didn’t hold true. The U.S. sent 16% of its exports, the largest single share, to Canada, valued at $308 billion in 2022. Mexico was a close second (15%), and China is a distant third (8%).

The ranks are almost the same when looking at where the U.S. primarily imports from: with Mexico first, Canada second, and China third.

For three countries—France, Italy, and Türkiye—Germany became the largest export market.

Of course, as the three largest economies in the world, it makes sense the U.S., China, and Germany are the key trading partners for so many countries. Perhaps more interesting is how the export share varies between G20 members.

For example, the U.S. is the largest export market for both Mexico and the UK. However, 77% of Mexico’s exports go to the U.S., compared to just 13% of the UK’s. Tellingly, a low percentage of European countries’ exports go to their largest export markets by value, indicating strong regional trade within Europe.

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Are the G20 the cool kids on the world stage now? Check out G7 vs G20: Share of Global GDP to see how the G7’s fortunes have changed since the 2010s.

The post Mapped: Every G20 Economy’s Top Export Market appeared first on Visual Capitalist.

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