The USA’s $1.1 trillion deficit is four times larger than India’s trade deficit

Key takeaways

The United States leads with a massive $1.1 trillion in trade deficit, over four times larger than India's $245.5 billion deficit
India and the United Kingdom follow, each exceeding $230 billion in trade deficits, reflecting high import reliance
The USA’s trade imbalance alone surpasses the combined deficits of the other nine countries on this list
Six of the top ten countries with the largest deficits are European economies

Global trade deficits vary widely, with the United States standing out at $1.1 trillion, more than four times larger than India’s $245.5 billion deficit. The USA’s trade deficit alone exceeds the combined deficits of the remaining nine countries, underscoring its high import consumption. The UK follows closely behind India with a $233.1 billion deficit, highlighting a reliance on imports. Japan, Spain, Greece, and Romania maintain deficits below $50 billion in a list dominated by European economies.

Source:

World Bank

<div style="text-align: center;"><a href="https://intelpoint.co/insights/the-usas-1-1-trillion-deficit-is-four-times-larger-than-indias-trade-deficit/" title="The USA’s $1.1 trillion deficit is four times larger than India’s trade deficit"><img src="https://intelpoint.co/wp-content/uploads/2025/03/The-top-10-countries-with-the-biggest-trade-deficits-in-2023.webp" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: The USA’s $1.1 trillion deficit is four times larger than India’s trade deficit"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=The+USA%E2%80%99s+%241.1+trillion+deficit+is+four+times+larger+than+India%E2%80%99s+trade+deficit" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

2023

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

Nigeria bought ₦305.66 billion worth of crude oil from Libya in Q2 2026

Nigeria imported ₦305.69bn from Libya in Q2 2026, up from ₦2.17bn in Q1.
Crude oil accounted for 99.99% of Q2 imports, worth ₦305.66bn.
Libya’s Q2 exports to Nigeria surged from ₦7.4bn in 2025 to ₦305.69bn.
Libya became Nigeria’s ninth-largest import source, accounting for 2.12% of total imports in Q2.
Nigeria’s imports from Libya were previously dominated by much smaller values, with crude oil driving the sharp 2026 increase.

Crude oil and non-crude exports each accounted for roughly 50% of Nigeria's total export value in H1 2026

Nigeria’s crude and non-crude exports were nearly equal in H1 2026, at ₦24.1tn and ₦24tn, respectively.
Non-crude exports overtook crude in Q2 for the first time in at least six years, reaching ₦14.11tn.
Petroleum products and natural gas dominate non-crude exports, while non-oil exports accounted for just 13.8% of Q2 exports.
Nigeria’s export mix is shifting, but remains heavily dependent on hydrocarbons.

Nigeria sold almost as much non-oil to Africa as it bought, except in energy and agriculture

Nigeria’s non-oil trade with Africa was nearly balanced, with an ₦88bn surplus on almost ₦2tn of trade in H1 2026.
Energy trade was entirely export-led, with Nigeria selling ₦156.5bn and recording no imports.
Solid minerals also leaned towards exports, with sales making up 66.1% of category trade.
Agriculture ran a large deficit, as imports accounted for 84.5% of trade and exceeded exports by ₦178bn.
Nigeria’s agricultural trade deficit widened sharply, from ₦59bn in Q1 to ₦119bn in Q2.

Nigeria's exports to South Africa have far exceeded imports since 2002

Nigeria has exported more to South Africa than it has imported every year since 2002.
Exports peaked at $6.29 billion in 2014, driven almost entirely by mineral fuels.
Imports from South Africa have remained below $1 billion annually.
Nigeria recorded a $1.27 billion trade surplus with South Africa in 2025.
Mineral fuels made up over 95% of Nigeria's exports throughout 1995-2025.

Morocco nearly matched South Africa in Africa’s vehicle import market in 2025

South Africa led with $8.52 billion, only $140 million ahead of Morocco.
Morocco’s imports have grown steadily, while South Africa’s 2025 figure was a recovery toward its 2012 peak.
Egypt ranked third, followed by Algeria and Nigeria.
The top 10 markets accounted for 67.1% of Africa’s $56.48 billion total.
Road vehicle imports include vehicles, parts, motorcycles, trailers, and semi-trailers.

Africa’s merchandise exports to China in 2025

Africa exported a record $86.2bn worth of goods to China in 2025.
China received about 12.5% of Africa’s total merchandise exports.
Annual exports remained below $10bn until 2004, before accelerating sharply.
Export values have remained relatively high since 2021 despite earlier downturns.
The trade relationship remains heavily commodity-led, with limited manufactured exports.