• Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Iran’s Trade with BRICS Surging – Foreign Minister

June 6, 2023

India Boasts World’s Fifth-largest Stock Market – Bloomberg

June 6, 2023

Russia Planning Major High-speed Rail Expansion

June 6, 2023
Facebook Twitter Instagram
Trending
  • Iran’s Trade with BRICS Surging – Foreign Minister
  • India Boasts World’s Fifth-largest Stock Market – Bloomberg
  • Russia Planning Major High-speed Rail Expansion
  • Russia Reacts to Indonesian Peace Plan
  • Cop-Tasered 95-Year-Old Dies After Nursing Home Incident
  • Zelensky’s Penthouse Seized In Crimea
  • Meta Initiates Final Round Of Mass Layoffs
  • DeSantis Twitter Disaster: Bungled Campaign Announcement Riddled With Glitches
Thursday, June 8
Facebook Twitter Instagram
RT NewsRT News
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
RT NewsRT News
Home » China and Russia Top List of States With Largest Trade Surplus
State Of Affairs

China and Russia Top List of States With Largest Trade Surplus

adminBy adminMarch 28, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn WhatsApp Pinterest Email

China and Russia Top List of States With Largest Trade Surplus

By RT News

Both countries saw indicators grow to record highs last year on soaring exports.

China and Russia became the world leaders in trade surplus last year, according to calculations by RIA Novosti based on data from the national statistical services of both countries. A trade surplus is an indicator of a positive balance of trade, where a country’s exports exceed its imports. Traditionally, by showing that local currency and resource inflow exceeds outflow, a surplus serves as an indicator of a healthy economy.

Both countries broke their own records in 2022, with China’s trade surplus surging 30% to an all-time high of $877.6 billion. The country exported approximately $3.59 trillion worth of goods, a growth in export value of about 7% compared to the previous year. Imports, meanwhile, grew by only 1.1%, to roughly $2.72 trillion.

Russia increased its surplus 1.7 times over the year to a record $333.4 billion, claiming the second place among major economies. The country’s total exports reached $591.4 billion, up 19.9% from 2021. The surge was driven by the rise in energy sales, which made up the bulk of Russia’s foreign exports and reached $383.73 billion, a 42.8% year-on-year increase. Imports, however, slid 11.7% against the previous year to $259.1 billion. Analysts attribute the drop in imports to Western sanctions on Russia, combined with Moscow’s efforts toward self-sufficiency and import substitution measures.

Saudi Arabia, which posted its highest trade surplus since 2012 at $221.3 billion, ranked third, followed by Norway, Australia and Qatar.

Germany saw its figure drop 2.4 times to $85.34 billion, slipping to the seventh spot from the second place a year earlier.

Canada, meanwhile, became the absolute leader in terms of growth, with its number jumping 4.8 times throughout the year, to $17.45 billion. According to the data, the only country that was able to move from a deficit to a surplus in trade at the end of last year was Nigeria.

Overall, 26 major economies recorded a surplus in 2022, compared to 32 economies a year earlier. The study was conducted by RIA Novosti on the basis of data from the national statistical services of the globe’s 60 largest economies, which had disclosed trade results for January-December 2022 as of mid-March.

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
admin
  • Website

Related Posts

Iran’s Trade with BRICS Surging – Foreign Minister

June 6, 2023

Russia Planning Major High-speed Rail Expansion

June 6, 2023

Russia Reacts to Indonesian Peace Plan

June 6, 2023

Zelensky’s Penthouse Seized In Crimea

May 26, 2023

Ukraine Can’t Beat Russia — Hungarian PM Orban

May 24, 2023

‘Radioactive Cloud’ Threatening Western Europe – Russian Security Chief

May 22, 2023
Add A Comment

Leave A Reply Cancel Reply

Don't Miss

Iran’s Trade with BRICS Surging – Foreign Minister

By adminJune 6, 2023

Iran’s Trade with BRICS Surging – Foreign Minister By RT News Tehran is looking to…

India Boasts World’s Fifth-largest Stock Market – Bloomberg

June 6, 2023

Russia Planning Major High-speed Rail Expansion

June 6, 2023

Russia Reacts to Indonesian Peace Plan

June 6, 2023
Our Picks

Iran’s Trade with BRICS Surging – Foreign Minister

June 6, 2023

India Boasts World’s Fifth-largest Stock Market – Bloomberg

June 6, 2023

Russia Planning Major High-speed Rail Expansion

June 6, 2023

Russia Reacts to Indonesian Peace Plan

June 6, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Your source for the lifestyle news. This demo is crafted specifically to exhibit the use of the theme as a lifestyle site. Visit our main page for more demos.

We're accepting new partnerships right now.

Email Us: info@example.com
Contact: +1-320-0123-451

Our Picks

Nuclear Family: How Ukraine Helped North Korea Develop the World’s Deadliest Weapons

July 2, 2022

Russia Announces $14.5bn Domestic Airline Boost

June 30, 2022

Ukrainian Mayor Blames Shopping Mall Management For Deaths

June 30, 2022

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Instagram
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
© 2023 Russia-Ukraine.

Type above and press Enter to search. Press Esc to cancel.