The following infographic ranks the economies of the world’s largest importers based on the share of imports in GDP, using data from 2024 provided by the World Trade Organization (WTO) and the International Monetary Fund (IMF).
Import dependence stems from various factors, including natural resource constraints, production capabilities, and cost differentials.
In the European Union (EU), imports of goods account for 35% of the bloc’s GDP, largely due to its reliance on energy imports from Norway and the United States. The EU also imports a significant amount of electronics from China, its largest import market, which supplies 20.1% of the bloc’s total imports.
Mexico’s imports are equally substantial, amounting to 35% of its GDP, with agricultural products and auto parts predominantly sourced from the United States.
Canada, similar to the EU, has a high import dependence, with imports making up 26% of its GDP. This includes motor vehicles and parts, machinery, and electronics, with the United States providing nearly 50% of Canada’s imports, and China accounting for about 11%. The automotive trade between the United States and Canada has been deeply intertwined since the 1960s.
China’s imports, on the other hand, represent around 14% of its GDP. Its top import sources in 2023 were South Korea (7.4%), the United States (7%), and Japan (6.3%). China also imports substantial amounts of crude oil from Russia and Saudi Arabia.
The United States has a lower import dependence, with imports equating to 12% of its GDP, which is significantly lower than other large economies on the list. In 2023, Canada and Mexico collectively supplied 28.8% of US imports, primarily in crude oil and automobiles.
“US-Vietnam Trade Deal: A Mutually Beneficial Partnership”
On May 13, Prime Minister Pham Minh Chinh met with representatives of the American business community investing and operating in Vietnam. The purpose of this meeting was to listen to and address any challenges they may face, as well as to discuss proposals to enhance Vietnam-US investment and business cooperation.
“German Businesses on Challenges and Opportunities in Vietnam Amid Global Flux”
“As 2025 unfolds, the German Business Association in Vietnam (GBA) continues to demonstrate its strong commitment, strategic agility, and long-term dedication to Vietnam’s vibrant economy.
“US-China Trade Talks: PM Voices Key Desire”
“The esteemed Prime Minister shared insightful words with a captivated audience of American business representatives investing and operating within the vibrant landscape of Vietnam. This exclusive gathering offered a unique window into the future of economic collaboration and mutual prosperity between our nations.”
Stock Trading Leadership: Revving Up!
The trading week of May 12-16, 2025, witnessed a bustling landscape of transactions by executives and insiders, with notable activities in both trade and registration. The week stood out with significant deals involving HNM, HQC, SGR, and HPG, capturing the market’s attention.
US-Bound: Minister Nguyen Hong Dien Leads Negotiations with Vietnamese Giants to Boost Trade with America
Let me know if you would like me to tweak it further or provide additional suggestions!
To implement the directive of the Prime Minister of Vietnam to promote the execution of trade agreements and strive for a balanced trade relationship between the United States and Vietnam, on the afternoon of May 7, 2025, at the Ministry of Industry and Trade headquarters, the Minister of Industry and Trade and Chief Government Negotiator, Nguyen Hong Dien, chaired a meeting with major Vietnamese corporations, companies, and enterprises.
