International trade

Data insights

International trade is the backbone of the global economy, facilitating the exchange of goods, services and ideas across borders. It fosters economic growth, enhances productivity and drives innovation. This collection of thematic insights delves into key aspects of international trade, offering a deeper understanding of its diverse components.

The world’s largest bilateral flows of merchandise trade run between China and the United States of America

Main world import flows, billions of dollars, 2024

UN Trade and Development, UNCTADstat.

Economies with one bilateral import higher than $125 billion are shown in the default selection.

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The world’s largest bilateral flows of merchandise trade run between China and the United States of America, and between their respective neighbouring economies. In 2024, goods worth $463 billion were imported by the United States from China, 3% more than the previous year but still more than 20% less than in 2022, and $173 billion by China from the United States (almost 5% more than in 2023). China’s trade – exports and imports – with Hong Kong (China), Japan, Taiwan Province of China, and the Republic of Korea totalled $1.28 trillion. The United States’ trade with Mexico and Canada was worth $1.61 trillion.

Data updated on 1 Jul 2025

Europe and Asia see the most intra-regional trade

Intra- and extra-regional exports, percentage of total exports, 2024

UN Trade and Development, UNCTADstat.

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Intra-regional trade was most pronounced in Europe and Asia. In 2024, 66% of all European exports went to trading partners in Europe. In Asia, this rate reached 59%. By contrast, in Oceania, Latin America and the Caribbean, Africa, and Northern America, the main trade partners were extra-regional representing between 70 and 95% of their total exports.

Data updated on 1 Jul 2025

In 2024, developing economies’ main markets were the United States of America and China

Developing economies’ (selected groups) main export destinations, billions of dollars, 2024

UN Trade and Development, UNCTADstat.

The higher the Theil index, the more concentrated the trade

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In 2024, developing economies shipped most of their exports to the United States of America ($1.8 trillion), followed by China ($1.3 trillion). In terms of imports, China ranked number one ($1.8 trillion) and was followed by the United States of America ($1.0 trillion) and Japan ($0.5 trillion). 

Exports from American developing economies were mainly oriented towards the United States of America ($646 billion). China came second ($190 billion) at some distance. For African developing economies, the main export market was China ($80 billion) with United Arab Emirates ($41 billion), Italy ($35 billion) and France ($34 billion) the other main destinations.

Data updated on 1 Jul 2025

In 2024 South-South trade was $6.2 trillion, a 7% increase on 2023

Global trade exports, 2000-2024

UN Trade and Development, UNCTADstat.

North refers to developed economies, South to developing economies. Trade is measured from the export side. Deliveries to ship stores and bunkers as well as minor and special-category exports with unspecified destination are not included.

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In 2024, goods worth $9.1 trillion were exchanged between developed economies (North-North trade), whereas merchandise trade among developing economies (South-South trade) amounted to $6.2 trillion. Exports from developed to developing economies and vice-versa (North-South, and South-North trade) totalled $8.8 trillion and thus, for developed economies, trade with developing economies was slightly less important than trade within their own group. Over time, South-South trade has increased its share of total merchandise trade from 11% in 2000 to reach 26% in 2024.

Data updated on 1 Jul 2025

Metadata

Intra-trade is the trade between economies belonging to the same group. Extra-trade is the trade of economies of the same group with all economies outside the group. It represents the difference between a group’s total trade and intra-trade. 

The exports from an economy A to an economy B, recorded FOB, do not exactly equal the imports of economy B from economy A, recorded CIF. The reasons for these trade asymmetries include: a conceptual difference between exporting economy and country of origin; different times of recording for exports and imports; different treatment of transit trade; underreporting; measurement errors; mispricing and mis-invoicing. 

The exports to (imports from) all economies of the world do not always exactly add up to total exports (imports). The difference is caused by ship stores, bunkers and other exports of minor importance.

Full metadata are available in our Data Centre for the Merchandise trade matrix.

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