China, US, Germany
Main Destinations for G20 Exports
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.