Economy, investment and finance

Data insights

Economic, investment and financial data provide vital measurements of economies' health, overall development and capacity for growth. This collection of thematic insights explores critical dimensions of national accounts, economic potential and price signals.

How important is trade in goods for economies?

Trade openness index, 2023, percentage

UN Trade and Development, UNCTADstat.

This index measures the importance of international trade in goods relative to the domestic economic output of an economy. Exports are given equal weight to imports.

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In 2023, Hong Kong (China) reported the highest trade openness index, as the average value of its exports and imports of goods represented 153% of its GDP. Djibouti (116%) and Singapore (93%) ranked second and third, respectively. The ratios are much lower for some of the world’s largest economies. The United States of America recorded 9%, Japan 18%, and China 16%.

Data updated on 10 Apr 2025

Developing economies maintain a significant trade-in-goods surplus vis-a-vis the developed world

Balances in trade of goods and services, billions of dollars

UN Trade and Development, UNCTADstat.

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In 2023, developing economies maintained a substantial trade surplus in goods and services, although it declined significantly from $1 trillion in 2022 to $705 billion. This drop was largely driven by a reduction in their goods surplus, which fell from $1.1 trillion to $821 billion. 

Meanwhile, their services trade deficit widened and reached $116 billion. In contrast, developed economies reversed their overall trade balance from a $219 billion deficit in 2022 to an $85 billion surplus in 2023, primarily due to a shrinking goods deficit and a robust services surplus nearing $689 billion. 

Data updated on 10 Apr 2025

Diverging trade paths: services rise as goods decline in developing economies

Exports of goods and services, billions of dollars

UN Trade and Development, UNCTADstat.

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In 2023, developing economies’ exports of goods and services fell by 4.4% to $12 trillion, mainly due to a 6.8% drop in goods trade. However, services exports rose by 7.4%, continuing a post-pandemic recovery trend.

LDCs saw a 3.5% decline in total exports, reaching $307 billion. Goods exports dropped by 5.1%, while services grew by 6.6%—marking a third consecutive year of growth.

Data updated on 10 Apr 2025

Metadata

The statistics presented correspond to the concepts and definitions of the IMF Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6), except those countries and territories who present their figures according to the fifth edition of the Manual (BPM5).

For full metadata are available in our Data Centre for Trade openness.

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