China, Russia Became World's Trade Surplus Leaders In 2022

MOSCOW (UrduPoint News / Sputnik - 26th March, 2023) China and Russia became world leaders in the trade surplus in 2022, breaking their own records for this indicator, according to Sputnik calculations based on data from national statistics.

China's trade surplus grew by 30% last year to an all-time high of $877.6 billion, the data showed. Russia increased its surplus 1.7 times over the year to a record $333.4 billion, moving up to second place among major economies.

Saudi Arabia, which had its highest trade surplus since 2012 at $221.3 billion, ranked third.

The absolute leader in trade surplus growth in 2022 was Canada, where the index jumped 4.8 times � from $3.65 billion to $17.45 billion. At the same time, the only country that managed to move from a trade deficit to a surplus last year was Nigeria.

As a result, 26 major economies recorded a trade surplus of $2.45 trillion in 2022, compared to 32 countries with $2.1 trillion a year earlier.

The study was conducted by Sputnik on the basis of data from the national statistical agencies of the world's 60 largest economies.