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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5. Argentina
> Imports as % of GDP, 2020: 13.56%
> Imports in current US$, 2020: $52.77 billion – #55 highest of 189 countries
> Annual imports growth, 2020: -17.87% – #27 largest decline of 170 countries
> Exports as % of GDP, 2020: 16.59% – #31 lowest of 190 countries
> Exports in current US$, 2020: $64.59 billion – #48 highest of 189 countries
> GDP in current US$, 2020: $389.29 billion – #29 highest of 190 countries
Argentina is still reeling from a recent economic crisis and has yet to recover from the pandemic-related downturn that exacerbated the country’s economic woes. With a population of about 43 million, the country’s main exports are vegetables and livestock, food products, and transportation equipment. Its top import and export market is neighboring Brazil.
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4. United States
> Imports as % of GDP, 2020: 13.28%
> Imports in current US$, 2020: $2,774.60 billion – #1 highest of 189 countries
> Annual imports growth, 2020: -8.93% – #60 smallest decline of 170 countries
> Exports as % of GDP, 2020: 10.16% – #15 lowest of 190 countries
> Exports in current US$, 2020: $2,123.41 billion – #2 highest of 189 countries
> GDP in current US$, 2020: $20,893.75 billion – #1 highest of 190 countries
Unlike China, which routinely maintains a trade surplus, the United States routinely maintains a trade deficit. But with a more diverse economy, the country of about 330 million people depends less on imports than China. The country’s top exports include machinery and electronics, transportation equipment, fuels, chemicals, and metals.
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3. Turkmenistan
> Imports as % of GDP, 2018: 12.50%
> Imports in current US$, 2018: $5.09 billion – #60 lowest of 189 countries
> Annual imports growth, 0: No data
> Exports as % of GDP, 2018: 22.66% – #57 lowest of 190 countries
> Exports in current US$, 2018: $9.24 billion – #95 lowest of 189 countries
> GDP in current US$, 2019: $45.23 billion – #87 highest of 190 countries
This small central Asian country of about 6 million people is primarily an exporter of fuels (mostly natural gas), which make up about 81% of its exports, followed by textiles and clothing. Its primary bilateral trading partner is Russia. Its second largest export market is Italy, and its second-largest source of imports is Turkey.
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2. Cuba
> Imports as % of GDP, 2020: 7.51%
> Imports in current US$, 2020: $8.07 billion – #80 lowest of 189 countries
> Annual imports growth, 2020: -7.61% – #43 smallest decline of 170 countries
> Exports as % of GDP, 2020: 8.17% – #10 lowest of 190 countries
> Exports in current US$, 2020: $8.77 billion – #93 lowest of 189 countries
> GDP in current US$, 2020: $107.35 billion – #60 highest of 190 countries
The Communist Caribbean island country of about 11 million people is among the world’s most self-reliant based on imports as a share of GDP. Cuba has recently been reeling from the COVID-19 pandemic’s effect on its vital tourism trade. Primary exports include cigars and medicines, and primary imports include diesel power generators and refrigerators. Its primary trading partners are Venezuela, Spain, Russia, and China.
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1. Sudan
> Imports as % of GDP, 2020: 0.35%
> Imports in current US$, 2020: $0.07 billion – #1 lowest of 189 countries
> Annual imports growth, 2020: -3.90% – #19 smallest decline of 170 countries
> Exports as % of GDP, 2020: 0.44% – #1 lowest of 190 countries
> Exports in current US$, 2020: $0.09 billion – #6 lowest of 189 countries
> GDP in current US$, 2020: $21.33 billion – #80 lowest of 190 countries
Out of necessity, this country of 44 million is the world’s most self-reliant with only a sliver of outgoing or incoming trade thanks to years of civil war and social unrest. Sudan’s top exports are livestock, fresh vegetables, and stone and glass. Its top export market is the United Arab Emirates, and the top source of imports is China.
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