The largest importing countries in the world 2024

yousef
economy
yousef24 November 2023Last Update : 7 months ago
The largest importing countries in the world 2024

The United States is the world’s largest importer of goods, with imports worth $3.4 trillion in 2022, a 15% annual rise, despite high inflation and economic uncertainty.

China followed in second place with imports of $2.7 trillion, despite the slowdown in growth last year. Taiwan is its largest trading partner in terms of imports, as it is a major provider of electronic products, including semiconductors.

According to World Trade Organization data, the value of global imports increased last year by 13.0% to $25.6 trillion, or the size of the gross domestic product of the United States, and the first ten importing countries accounted for more than half of global imports.

Germany came in third place, but in general the European Union is the largest importer of agricultural products, fuel, mining and cars in the world.

The World Trade Organization expects import volumes to shrink by up to 1.2% across North and South America, Asia and Europe.

The largest importing countries in the world

Country      Import value        Percentage of global imports      Annual rate of change in imports

United State   3376                             13.2%                                                  15.0%

China            2716                                   10.6%                                             1.0%

Germany      1571                                    6.1%                                             11.0%

Holland        899                                     3.5%                                           19.0%

Japan          897                                       3.5%                                               17.0%

United kingdom    824                          3.2%                                               19.0%

France                  818                              3.2%                                                   14.0%

South Korea      731                                 2.9%                                                  19.0%

India                  723                                  2.8%                                                 26.0%

Italy                   689                                  2.7%                                                      22.0%

Source: Visual Capitalist

b9a7180a 908f 4ef9 9372 62f71fc88888 - economystep

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