The World Bank figures highlight how some smaller economies rely heavily on international trade, with cross-border flows of goods and services several times larger than their annual economic output.
Luxembourg was the world’s most trade-dependent country in 2025, with the combined value of its exports and imports equivalent to 350% of its gross domestic product (GDP), according to World Bank data.
The European country ranked ahead of San Marino, where trade stood at 341% of GDP, and Singapore at 320%. The figures highlight how some smaller economies rely heavily on international trade, with cross-border flows of goods and services several times larger than their annual economic output.
Ireland ranked fourth, with trade at 240% of GDP, followed by Malta (219%), Djibouti (206%), the United Arab Emirates (199%), Vietnam (190%), Cyprus (189%) and Seychelles (172%).
Global trade dependence by country (2025)
(Combined exports and imports of goods and services as a percentage of GDP)
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US ranks among least trade-dependent economies
At the other end of the ranking, the United States had a trade-to-GDP ratio of 25%, placing it fourth from the bottom among the 170 countries covered.
Sudan was the least trade-dependent country, with exports and imports accounting for just 2% of GDP. Haiti followed at 16%, while Venezuela stood at 25%.
Other countries with relatively low trade-to-GDP ratios included Pakistan (27%), Bangladesh (28%), Turkmenistan (28%), Argentina (30%), Cameroon (33%) and Ethiopia (33%).
The figures also underline the difference between the scale of a country’s trade and its dependence on international markets. The US and China, for instance, trade trillions of dollars worth of goods and services annually, but their large domestic markets mean trade accounts for a relatively smaller share of their economic output.
China had a trade-to-GDP ratio of 38%.
How is trade dependence measured?
Trade dependence is measured by adding a country’s exports and imports of goods and services and expressing the combined value as a percentage of its GDP.
A higher ratio indicates that international trade accounts for a larger share of economic activity. Smaller economies often have higher ratios because they rely on imports to meet domestic demand and exports to support key industries.
The World Bank figures primarily relate to 2025, although data from 2022 to 2024 has been used for some countries where more recent figures were unavailable. Territories such as Hong Kong have been excluded from the ranking.
Key figures:
– 350%: Luxembourg’s trade-to-GDP ratio, the highest among 170 countries.
– 172%: Seychelles’ ratio, the 10th highest.
– 80%: Median trade-to-GDP ratio across countries.
– 25%: US trade-to-GDP ratio, fourth lowest.
– 2%: Sudan’s ratio, the lowest.
