Who is a net seller and who is a net buyer?
Across the 96 commodities with trade data, Australia has the largest combined surplus, $264.1 billion in 2024, and China the largest deficit, −$808.7 billion. For the median commodity, 83% of world export value comes from countries that sell more than they buy.
Net trade is a country's exports minus its imports of a commodity, by value. A country can be both a large exporter and a large importer of the same commodity (it re-exports, or it sells one grade and buys another), so gross rankings can hide who really supplies the rest of the world. "Balance" totals below add up each country's net position across the commodity lines tracked here, which is an indicator of its position in these commodities and not a national trade balance.
Countries with the largest balances
Commodity by commodity
| Commodity | World exports | From net exporters | Largest net exporters | Largest net importers |
|---|---|---|---|---|
| Crude oil | $1264.2 billion | 84% | Saudi Arabia ($186.9 billion), Russia ($124.2 billion), United Arab Emirates ($114.4 billion) | China (−$318.4 billion), India (−$141.8 billion), South Korea (−$84.5 billion) |
| Gold | $519.9 billion | 46% | Canada ($42.7 billion), United Arab Emirates ($25.8 billion), South Africa ($25.0 billion) | United Kingdom (−$68.0 billion), India (−$58.5 billion), China (−$49.3 billion) |
| Natural gas | $442.4 billion | 89% | United States ($74.5 billion), Norway ($54.5 billion), Australia ($49.0 billion) | China (−$84.3 billion), Japan (−$47.1 billion), South Korea (−$34.1 billion) |
| Coal | $178.0 billion | 95% | Australia ($61.7 billion), Indonesia ($30.9 billion), Russia ($22.2 billion) | China (−$38.3 billion), India (−$32.0 billion), Japan (−$26.7 billion) |
| Iron ore | $158.1 billion | 96% | Australia ($87.4 billion), Brazil ($31.3 billion), South Africa ($6.6 billion) | China (−$112.0 billion), Japan (−$8.5 billion), South Korea (−$7.8 billion) |
| Copper | $102.6 billion | 93% | Chile ($30.9 billion), Peru ($20.5 billion), Indonesia ($8.4 billion) | China (−$66.2 billion), Japan (−$13.5 billion), South Korea (−$4.1 billion) |
| Soybeans | $80.0 billion | 96% | Brazil ($42.9 billion), United States ($24.3 billion), Paraguay ($3.2 billion) | China (−$47.1 billion), Mexico (−$3.0 billion), Spain (−$2.5 billion) |
| Aluminum | $68.6 billion | 78% | Canada ($8.3 billion), United Arab Emirates ($7.4 billion), Russia ($7.3 billion) | United States (−$9.5 billion), China (−$7.8 billion), Japan (−$5.0 billion) |
| Steel | $65.6 billion | 63% | China ($18.3 billion), Japan ($8.1 billion), South Korea ($3.2 billion) | Vietnam (−$5.0 billion), Italy (−$2.5 billion), United Arab Emirates (−$2.4 billion) |
| Wheat | $55.9 billion | 94% | Russia ($9.1 billion), Canada ($7.8 billion), United States ($6.0 billion) | Egypt (−$5.2 billion), Indonesia (−$3.2 billion), China (−$2.9 billion) |
| Corn | $46.1 billion | 97% | United States ($13.5 billion), Brazil ($8.3 billion), Argentina ($7.6 billion) | Mexico (−$4.7 billion), Japan (−$3.6 billion), South Korea (−$2.6 billion) |
| Palm oil | $43.0 billion | 95% | Indonesia ($21.1 billion), Malaysia ($15.1 billion), Thailand ($873 million) | India (−$8.3 billion), China (−$3.2 billion), Pakistan (−$3.0 billion) |
| Cheese | $42.4 billion | 41% | Netherlands ($3.3 billion), Italy ($2.9 billion), Denmark ($1.8 billion) | United Kingdom (−$1.7 billion), Japan (−$1.3 billion), Spain (−$1.2 billion) |
| Sugar | $38.9 billion | 86% | Brazil ($20.5 billion), Thailand ($2.5 billion), France ($1.7 billion) | Indonesia (−$2.8 billion), United States (−$2.2 billion), China (−$1.8 billion) |
| Rice | $38.7 billion | 86% | India ($11.9 billion), Thailand ($6.7 billion), Pakistan ($4.1 billion) | Indonesia (−$2.7 billion), Philippines (−$2.5 billion), Saudi Arabia (−$1.9 billion) |
| Pork | $36.6 billion | 75% | Spain ($6.3 billion), United States ($5.0 billion), Brazil ($2.9 billion) | Japan (−$4.2 billion), Italy (−$2.8 billion), Mexico (−$2.2 billion) |
| Beef | $35.8 billion | 80% | Brazil ($10.1 billion), Australia ($5.7 billion), India ($3.5 billion) | China (−$11.8 billion), South Korea (−$2.4 billion), Japan (−$1.3 billion) |
| Chicken | $34.0 billion | 79% | Brazil ($9.2 billion), United States ($4.7 billion), Poland ($4.6 billion) | United Kingdom (−$1.8 billion), Mexico (−$1.8 billion), China (−$1.7 billion) |
| Sawnwood | $33.9 billion | 81% | Canada ($6.0 billion), Sweden ($3.7 billion), Russia ($3.6 billion) | China (−$6.7 billion), United States (−$5.0 billion), United Kingdom (−$2.3 billion) |
| Coffee | $32.7 billion | 91% | Brazil ($11.7 billion), Vietnam ($3.6 billion), Colombia ($3.4 billion) | United States (−$6.1 billion), Germany (−$3.5 billion), Italy (−$2.6 billion) |
| Silver | $31.8 billion | 49% | China ($3.9 billion), Mexico ($2.9 billion), South Korea ($1.9 billion) | India (−$5.4 billion), United States (−$4.4 billion), Hong Kong (−$3.3 billion) |
| Shrimp | $29.1 billion | 78% | Ecuador ($6.3 billion), India ($4.5 billion), Canada ($2.4 billion) | China (−$7.8 billion), United States (−$6.3 billion), Japan (−$1.8 billion) |
| Milk | $20.2 billion | 78% | New Zealand ($6.2 billion), United States ($2.1 billion), Netherlands ($1.1 billion) | China (−$2.5 billion), Algeria (−$1.3 billion), Mexico (−$907 million) |
| Potash | $19.6 billion | 91% | Canada ($6.6 billion), Russia ($4.7 billion), Germany ($1.5 billion) | Brazil (−$3.9 billion), China (−$3.4 billion), United States (−$3.0 billion) |
| Urea | $19.2 billion | 93% | Russia ($3.2 billion), Oman ($2.7 billion), Qatar ($1.8 billion) | Brazil (−$2.9 billion), India (−$2.1 billion), Australia (−$1.4 billion) |
| Cocoa | $18.5 billion | 90% | Ivory Coast (Côte d'Ivoire) ($5.0 billion), Ecuador ($3.1 billion), Nigeria ($2.2 billion) | Netherlands (−$3.4 billion), Malaysia (−$2.9 billion), Germany (−$1.8 billion) |
| Sunflower oil | $18.0 billion | 73% | Ukraine ($5.3 billion), Russia ($4.4 billion), Argentina ($889 million) | India (−$3.3 billion), China (−$1.1 billion), Italy (−$777 million) |
| Cotton | $17.0 billion | 89% | Brazil ($5.1 billion), United States ($4.9 billion), Australia ($2.4 billion) | China (−$4.5 billion), Bangladesh (−$2.5 billion), Vietnam (−$2.5 billion) |
| Natural rubber | $16.6 billion | 84% | Thailand ($5.1 billion), Indonesia ($3.0 billion), Ivory Coast (Côte d'Ivoire) ($2.7 billion) | China (−$3.9 billion), United States (−$1.7 billion), Japan (−$1.2 billion) |
| Olive oil | $16.1 billion | 63% | Spain ($5.3 billion), Tunisia ($1.6 billion), Greece ($1.0 billion) | United States (−$3.1 billion), France (−$806 million), Brazil (−$760 million) |
| Salmon | $15.9 billion | 84% | Norway ($8.0 billion), Sweden ($2.6 billion), Chile ($1.2 billion) | Poland (−$2.1 billion), France (−$1.5 billion), United States (−$1.2 billion) |
| Plywood | $15.5 billion | 78% | China ($4.3 billion), Indonesia ($1.8 billion), Vietnam ($1.0 billion) | United States (−$2.9 billion), Japan (−$1.1 billion), Germany (−$760 million) |
| Bananas | $14.9 billion | 90% | Ecuador ($4.2 billion), Colombia ($1.6 billion), Guatemala ($1.5 billion) | United States (−$2.7 billion), China (−$981 million), Japan (−$930 million) |
| Platinum | $14.5 billion | 62% | South Africa ($5.3 billion), United Arab Emirates ($1.0 billion), Russia ($512 million) | China (−$2.9 billion), India (−$1.6 billion), United States (−$1.2 billion) |
| Zinc | $14.3 billion | 70% | Spain ($1.3 billion), South Korea ($1.2 billion), Australia ($1.2 billion) | United States (−$1.6 billion), China (−$1.2 billion), Turkey (Türkiye) (−$844 million) |
| Nickel | $14.2 billion | 68% | Norway ($2.2 billion), Canada ($1.8 billion), Australia ($1.3 billion) | United States (−$1.1 billion), Netherlands (−$1.0 billion), Other Asia, nes (−$802 million) |
| Tobacco | $13.1 billion | 69% | Brazil ($2.7 billion), India ($1.5 billion), Zimbabwe ($1.3 billion) | Belgium (−$1.3 billion), China (−$1.2 billion), United Arab Emirates (−$651 million) |
| Palladium | $13.1 billion | 59% | Russia ($2.9 billion), South Africa ($2.8 billion), Belgium ($635 million) | Switzerland (−$1.3 billion), Japan (−$1.2 billion), Germany (−$914 million) |
| Canola | $13.0 billion | 83% | Canada ($4.0 billion), Australia ($2.9 billion), Ukraine ($1.9 billion) | China (−$3.0 billion), Germany (−$2.4 billion), Belgium (−$1.2 billion) |
| Grapes | $12.8 billion | 76% | Peru ($1.8 billion), Chile ($1.3 billion), South Africa ($1.1 billion) | United States (−$1.3 billion), United Kingdom (−$948 million), Germany (−$812 million) |
| Tomatoes | $11.7 billion | 79% | Mexico ($3.5 billion), Morocco ($1.6 billion), Netherlands ($1.3 billion) | United States (−$3.7 billion), Germany (−$1.6 billion), United Kingdom (−$783 million) |
| Bauxite | $11.5 billion | 97% | Guinea ($8.3 billion), Australia ($1.9 billion), Brazil ($241 million) | China (−$9.7 billion), India (−$334 million), Ireland (−$221 million) |
| Logs | $11.1 billion | 74% | New Zealand ($1.8 billion), United States ($1.6 billion), Papua New Guinea ($513 million) | China (−$5.4 billion), India (−$913 million), Austria (−$761 million) |
| Avocados | $9.3 billion | 83% | Mexico ($4.0 billion), Peru ($1.4 billion), Israel ($444 million) | United States (−$3.7 billion), Netherlands (−$566 million), France (−$371 million) |
| Barley | $9.0 billion | 94% | Australia ($1.8 billion), France ($1.4 billion), Russia ($985 million) | China (−$3.1 billion), Saudi Arabia (−$868 million), Netherlands (−$537 million) |
| Lamb | $8.9 billion | 87% | Australia ($3.8 billion), New Zealand ($2.2 billion), Ireland ($426 million) | United States (−$1.5 billion), China (−$1.2 billion), France (−$636 million) |
| Chromium | $8.4 billion | 97% | South Africa ($7.1 billion), Turkey (Türkiye) ($359 million), Zimbabwe ($146 million) | China (−$5.4 billion), Mozambique (−$2.0 billion), Russia (−$134 million) |
| Fishmeal | $8.3 billion | 69% | Peru ($1.6 billion), United States ($823 million), Denmark ($366 million) | China (−$3.3 billion), Indonesia (−$361 million), Turkey (Türkiye) (−$314 million) |
| Molybdenum | $8.1 billion | 60% | Peru ($1.6 billion), Chile ($1.1 billion), Mexico ($714 million) | South Korea (−$999 million), Japan (−$742 million), China (−$570 million) |
| Apples | $7.9 billion | 87% | Italy ($1.1 billion), China ($1.0 billion), United States ($943 million) | Germany (−$488 million), United Kingdom (−$427 million), India (−$412 million) |
| Coconut oil | $7.7 billion | 74% | Indonesia ($2.6 billion), Philippines ($1.9 billion), Malaysia ($536 million) | United States (−$1.2 billion), China (−$1.0 billion), Germany (−$429 million) |
| Lead | $7.1 billion | 52% | Australia ($756 million), South Korea ($410 million), Canada ($335 million) | United States (−$832 million), Vietnam (−$635 million), Singapore (−$374 million) |
| Tea | $7.1 billion | 78% | Sri Lanka ($1.4 billion), Kenya ($1.3 billion), China ($1.2 billion) | Pakistan (−$624 million), United States (−$488 million), Russia (−$309 million) |
| Potatoes | $6.8 billion | 60% | France ($1.2 billion), Netherlands ($566 million), Germany ($521 million) | Belgium (−$631 million), Spain (−$345 million), Italy (−$285 million) |
| Sesame seed | $6.7 billion | 70% | Niger ($576 million), Sudan ($574 million), Nigeria ($391 million) | China (−$1.7 billion), Japan (−$419 million), Turkey (Türkiye) (−$324 million) |
| Manganese | $6.4 billion | 97% | South Africa ($3.1 billion), Gabon ($1.7 billion), Ghana ($556 million) | China (−$3.8 billion), India (−$1.1 billion), Norway (−$258 million) |
| Tin | $6.3 billion | 71% | Indonesia ($1.7 billion), Peru ($973 million), Bolivia ($691 million) | United States (−$599 million), Japan (−$551 million), South Korea (−$452 million) |
| Pepper | $5.8 billion | 63% | India ($1.2 billion), Vietnam ($992 million), China ($302 million) | United States (−$1.1 billion), Thailand (−$233 million), United Kingdom (−$153 million) |
| Oranges | $5.4 billion | 79% | Spain ($1.0 billion), Egypt ($1.0 billion), South Africa ($844 million) | France (−$408 million), Germany (−$396 million), Russia (−$268 million) |
| Eggs | $5.3 billion | 60% | Netherlands ($542 million), United States ($526 million), Turkey (Türkiye) ($480 million) | Germany (−$458 million), Hong Kong (−$301 million), Iraq (−$235 million) |
| Phosphate rock | $5.2 billion | 93% | Morocco ($1.5 billion), Jordan ($1.0 billion), Peru ($482 million) | India (−$1.9 billion), United States (−$326 million), Indonesia (−$234 million) |
| Almonds | $5.2 billion | 83% | United States ($3.4 billion), Australia ($418 million), Spain ($233 million) | United Arab Emirates (−$371 million), Germany (−$347 million), Italy (−$243 million) |
| Cobalt | $4.7 billion | 83% | DR Congo (Democratic Republic of the Congo) ($3.1 billion), Canada ($225 million), Finland ($115 million) | China (−$3.1 billion), United States (−$181 million), Other Asia, nes (−$111 million) |
| Peanuts | $4.6 billion | 83% | Argentina ($940 million), India ($858 million), United States ($667 million) | Indonesia (−$417 million), Netherlands (−$367 million), Mexico (−$210 million) |
| Lentils | $4.1 billion | 77% | Canada ($1.5 billion), Australia ($909 million), United States ($251 million) | India (−$662 million), Bangladesh (−$427 million), Iraq (−$217 million) |
| Mangoes | $4.0 billion | 84% | Mexico ($714 million), Thailand ($695 million), Brazil ($422 million) | United States (−$893 million), China (−$535 million), United Kingdom (−$267 million) |
| Lithium | $3.8 billion | 93% | Chile ($2.8 billion), Argentina ($721 million), Bolivia ($16 million) | China (−$2.5 billion), South Korea (−$357 million), Japan (−$214 million) |
| Cashews | $3.5 billion | 97% | Ivory Coast (Côte d'Ivoire) ($809 million), Tanzania ($602 million), Cambodia ($498 million) | Vietnam (−$1.8 billion), India (−$1.5 billion), United Arab Emirates (−$35 million) |
| Phosphate fertilizers | $3.5 billion | 93% | Morocco ($1.5 billion), China ($596 million), Israel ($409 million) | Brazil (−$1.1 billion), Bangladesh (−$526 million), United States (−$373 million) |
| Pistachios | $3.4 billion | 87% | United States ($2.5 billion), Iran ($473 million), Australia ($18 million) | China (−$883 million), Vietnam (−$265 million), Germany (−$230 million) |
| Cassava | $3.3 billion | 57% | Cambodia ($688 million), Laos ($400 million), Costa Rica ($209 million) | China (−$344 million), Vietnam (−$338 million), United States (−$177 million) |
| Wool | $2.8 billion | 93% | Australia ($1.8 billion), New Zealand ($288 million), South Africa ($242 million) | China (−$2.0 billion), India (−$203 million), Italy (−$106 million) |
| Pineapples | $2.7 billion | 88% | Costa Rica ($1.7 billion), Philippines ($430 million), Ecuador ($76 million) | United States (−$839 million), China (−$173 million), Japan (−$129 million) |
| Sorghum | $2.7 billion | 98% | United States ($1.6 billion), Australia ($611 million), Argentina ($254 million) | China (−$2.2 billion), Ethiopia (−$43 million), Japan (−$39 million) |
| Chickpeas | $2.4 billion | 68% | Australia ($602 million), Russia ($312 million), Mexico ($171 million) | Pakistan (−$304 million), Bangladesh (−$191 million), Algeria (−$165 million) |
| Dates | $2.4 billion | 79% | Saudi Arabia ($442 million), Tunisia ($367 million), Israel ($267 million) | India (−$287 million), Morocco (−$231 million), United Kingdom (−$101 million) |
| Hazelnuts | $2.3 billion | 88% | Turkey (Türkiye) ($1.4 billion), Chile ($238 million), United States ($137 million) | Germany (−$512 million), Italy (−$273 million), Poland (−$188 million) |
| Honey | $2.1 billion | 74% | New Zealand ($250 million), Argentina ($206 million), China ($190 million) | United States (−$629 million), Japan (−$134 million), Germany (−$119 million) |
| Orange juice | $1.8 billion | 71% | Brazil ($890 million), South Africa ($73 million), Egypt ($43 million) | Netherlands (−$267 million), United States (−$239 million), Germany (−$134 million) |
| Uranium | $1.6 billion | 99% | Namibia ($1.1 billion), Australia ($432 million), Uzbekistan ($47 million) | China (−$803 million), United States (−$527 million), France (−$152 million) |
| Ginger | $1.3 billion | 89% | China ($723 million), Peru ($113 million), Thailand ($86 million) | United States (−$152 million), Bangladesh (−$105 million), Netherlands (−$103 million) |
| Cardamom | $1.2 billion | 81% | Guatemala ($508 million), Indonesia ($229 million), India ($134 million) | United Arab Emirates (−$230 million), Saudi Arabia (−$224 million), China (−$93 million) |
| Linseed | $1.2 billion | 77% | Russia ($461 million), Kazakhstan ($236 million), Canada ($138 million) | China (−$350 million), Belgium (−$205 million), Germany (−$98 million) |
| Rare earths | $1.1 billion | 71% | China ($380 million), Vietnam ($154 million), Australia ($128 million) | Japan (−$264 million), Malaysia (−$117 million), India (−$63 million) |
| Oats | $1.1 billion | 90% | Canada ($450 million), Finland ($136 million), Australia ($119 million) | United States (−$322 million), China (−$149 million), Germany (−$145 million) |
| Plantains | $1.1 billion | 79% | Ecuador ($258 million), Guatemala ($168 million), Colombia ($150 million) | United States (−$351 million), Romania (−$104 million), Qatar (−$37 million) |
| Palm kernel oil | $1.1 billion | 78% | Malaysia ($182 million), Thailand ($157 million), Papua New Guinea ($89 million) | India (−$133 million), Netherlands (−$120 million), Germany (−$111 million) |
| Cinnamon | $820 million | 87% | Vietnam ($225 million), Sri Lanka ($200 million), Indonesia ($130 million) | United States (−$150 million), Mexico (−$90 million), India (−$84 million) |
| Sisal | $677 million | 92% | India ($268 million), Sri Lanka ($170 million), Kenya ($49 million) | China (−$175 million), United States (−$65 million), United Kingdom (−$43 million) |
| Cloves | $651 million | 83% | Indonesia ($245 million), Madagascar ($223 million), Tanzania ($33 million) | India (−$206 million), United Arab Emirates (−$47 million), China (−$33 million) |
| Graphite | $533 million | 68% | China ($194 million), Madagascar ($54 million), Mozambique ($44 million) | United States (−$78 million), Japan (−$50 million), India (−$38 million) |
| Vanilla | $456 million | 73% | Madagascar ($278 million), Uganda ($21 million), Indonesia ($12 million) | United States (−$130 million), France (−$85 million), Germany (−$21 million) |
| Silk | $370 million | 74% | China ($173 million), Vietnam ($56 million), Brazil ($18 million) | India (−$115 million), Romania (−$72 million), France (−$17 million) |
| Quinoa | $293 million | 79% | Peru ($136 million), Bolivia ($86 million), India ($6 million) | United States (−$96 million), Germany (−$12 million), China (−$11 million) |
| Yams | $250 million | 87% | Ghana ($63 million), Jamaica ($53 million), China ($27 million) | United States (−$103 million), Canada (−$34 million), United Kingdom (−$20 million) |
| Jute | $210 million | 88% | Bangladesh ($146 million), Tanzania ($22 million), Kenya ($8 million) | India (−$73 million), China (−$27 million), Pakistan (−$22 million) |
CEPII BACI (built from UN Comtrade), 2024, value in US dollars for the primary HS line of each commodity. Counts include only balances of $10 million or more. Some HS lines overlap (for example a broad crustaceans line and a narrower shrimp line), so combined balances are approximate. Net positions also depend on which lines are tracked: a country that imports the processed form of a commodity it exports raw appears in both columns for different lines.
More patterns
- Concentration:
- Producer or exporter?:
- Prices in real terms:
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- Linked prices and seasons:
- Reserves and mining:
- Supply concentration:
- Land or yield?:
- Supply shocks and prices:
- Category price indices:
- Drawdowns and volatility:
- Stocks and prices:
- Which prices follow oil?:
- How reliable is the data?:
- Country leaders:
- Export dependency:
- Concentration over time:
- Import dependency:
- Supplier shifts:
- Trade price against benchmark:
- Prices in other currencies:
- Do prices lead each other?:
- Volatility over time:
- Seasonality:
- Price ratios:
- El Niño and prices:
- Who consumes it:
- Self-sufficiency:
- Trade flows:
Every figure is computed from the same tables as the commodity pages. The full set is in patterns.json, and single facts from it appear each day on the facts page.