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.
| 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.
