Special Report
Most Self-Sufficient Economies in the World
February 15, 2022 3:00 pm
Last Updated: March 2, 2022 7:52 am
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10. Indonesia
> Imports as % of GDP, 2020: 16.02%
> Imports in current US$, 2020: $169.58 billion – #32 highest of 189 countries
> Annual imports growth, 2020: -14.71% – #46 largest decline of 170 countries
> Exports as % of GDP, 2020: 17.17% – #35 lowest of 190 countries
> Exports in current US$, 2020: $181.71 billion – #32 highest of 189 countries
> GDP in current US$, 2020: $1,058.42 billion – #16 highest of 190 countries
Indonesia’s trade surplus plummeted recently after it suspended coal exports due to low inventory at its power plants. The primary exports from this country of about 274 million include fuels, vegetables, machinery and electronics, metals, and textiles and clothing. Indonesia managed a trade surplus for seven years from 2008 to 2020, and its trade deficits are relatively small.
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9. China
> Imports as % of GDP, 2020: 16.01%
> Imports in current US$, 2020: $2,357.11 billion – #2 highest of 189 countries
> Annual imports growth, 0: No data
> Exports as % of GDP, 2020: 18.50% – #39 lowest of 190 countries
> Exports in current US$, 2020: $2,723.25 billion – #1 highest of 189 countries
> GDP in current US$, 2020: $14,722.73 billion – #2 highest of 190 countries
The world’s most populous country regularly maintains an annual trade surplus with the rest of the world. The country of about 1.4 billion people broke its record for alloy aluminum imports last year, while exports of refined lead and tin surged in the same period. China maintains 17 free trade agreements and 14 regional economic partnerships. The country’s top export is machinery and electronics.
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8. Japan
> Imports as % of GDP, 2020: 15.54%
> Imports in current US$, 2020: $786.22 billion – #5 highest of 189 countries
> Annual imports growth, 2020: -7.28% – #39 smallest decline of 170 countries
> Exports as % of GDP, 2020: 15.53% – #26 lowest of 190 countries
> Exports in current US$, 2020: $785.37 billion – #4 highest of 189 countries
> GDP in current US$, 2020: $5,057.76 billion – #3 highest of 190 countries
Japan’s exports and imports surged recently due to rising oil prices and a weaker yen. With a population of about 126 million, Japan has a highly diversified economy and trade pacts with dozens of countries. Japan’s primary exports are machinery and electronics and transportation equipment, which make up about 56% of its exports.
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7. Brazil
> Imports as % of GDP, 2020: 15.48%
> Imports in current US$, 2020: $223.69 billion – #26 highest of 189 countries
> Annual imports growth, 2020: -9.95% – #66 smallest decline of 170 countries
> Exports as % of GDP, 2020: 16.87% – #32 lowest of 190 countries
> Exports in current US$, 2020: $243.74 billion – #25 highest of 189 countries
> GDP in current US$, 2020: $1,444.73 billion – #12 highest of 190 countries
Latin America’s largest economy with a population of about 213 million is significantly diverse. While livestock and fresh produce make up about a fourth of its exports, the country is also a major exporter of food products, minerals, fuels, chemicals, wood, metals, and machinery. The country routinely maintains an annual trade surplus.
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6. Tanzania
> Imports as % of GDP, 2020: 15.31%
> Imports in current US$, 2020: $9.55 billion – #88 lowest of 189 countries
> Annual imports growth, 2020: -7.58% – #42 smallest decline of 170 countries
> Exports as % of GDP, 2020: 14.30% – #21 lowest of 190 countries
> Exports in current US$, 2020: $8.92 billion – #94 lowest of 189 countries
> GDP in current US$, 2020: $62.41 billion – #74 highest of 190 countries
This western African coastal country of about 60 million maintains a large trade deficit. Its primary exports include metals, machinery, food products, livestock, and fresh vegetables. Its top export markets are regional, led by Rwanda and Kenya, while the leading sources of imports are China and India.
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