The US and UK posted record trade deficits in 2022 of $1.18 trillion 290.4 billion.
According to Novosti’s analysis of data from the National Statistical Service, at the end of 2022, the US deficit increased by 9.9% to a maximum of $1.18 trillion. The UK also set a record last year as its trade deficit rose by a third to $290.4 billion and India doubled its deficit last year to $268.3 billion.
France, whose trade deficit increased by 1.8 times in a year to $171.7 billion, ranked fourth among the largest economies, while Japan, whose trade deficit increased by almost 10 times to $150.5 billion, ranked fifth.
The top 10 countries with the highest value of imported goods for export are Turkey ($109.5 billion), Spain ($71.5 billion), Philippines ($58.2 billion), Hong Kong ($49.8 billion) and Bangladesh ($48.1 billion).
In addition, six countries that posted trade surpluses in 2021 moved into negative territory last year: South Korea, Italy, Thailand, Hungary, Chile, Slovakia and Sweden.
As a result, the world’s 35 largest economies recorded a trade deficit totaling $2.9 trillion in 2022, compared to 29 countries with $2.1 trillion the previous year.
News conducted a study based on data from the national statistical services of the 60 largest economies in the world.
Source: News
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