External balance on goods and services in Small states
Small states: External balance on goods and services was 4.7% in 2025. ◆ Volatile
External balance on goods and services in Small states, 1993–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
Small states recorded 4.7% for external balance on goods and services in 2025.
That represents a change of up 13.1% on the previous year and down 17.8% over ten years.
Over the whole period, external balance on goods and services in Small states peaked at 7.1% in 2014 and was at its lowest, -3.8%, in 1998.
That places Small states 2nd out of 44 groups with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Small states, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1993 | -2.0% | — |
| 1994 | -2.5% | +28.4% |
| 1995 | -1.6% | -37.2% |
| 1996 | -2.7% | +74.3% |
| 1997 | -3.0% | +9.7% |
| 1998 | -3.8% | +26.6% |
| 1999 | -1.4% | -63.3% |
| 2000 | 1.1% | -176.9% |
| 2001 | 1.8% | +68.3% |
| 2002 | 2.1% | +15.2% |
| 2003 | 1.6% | -24.8% |
| 2004 | 0.7% | -57.7% |
| 2005 | -0.0% | -101.0% |
| 2006 | -2.4% | +35404.7% |
| 2007 | -2.3% | -6.4% |
| 2008 | -1.5% | -32.4% |
| 2009 | 1.0% | -165.4% |
| 2010 | 3.1% | +206.1% |
| 2011 | 4.9% | +60.7% |
| 2012 | 4.5% | -8.2% |
| 2013 | 5.2% | +16.1% |
| 2014 | 7.1% | +36.0% |
| 2015 | 5.7% | -19.4% |
| 2016 | 4.5% | -22.3% |
| 2017 | 4.4% | -0.5% |
| 2018 | 4.3% | -4.0% |
| 2019 | 5.0% | +16.3% |
| 2020 | 0.9% | -81.2% |
| 2021 | 4.4% | +367.8% |
| 2022 | 4.8% | +11.1% |
| 2023 | 4.8% | -0.2% |
| 2024 | 4.2% | -13.7% |
| 2025 | 4.7% | +13.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -2.4% | -3.8% | -1.4% | 7 |
| 2000s | 0.2% | -2.4% | 2.1% | 10 |
| 2010s | 4.9% | 3.1% | 7.1% | 10 |
| 2020s | 4.0% | 0.9% | 4.8% | 6 |
Countries ranked near Small states
- 1 Macau, China 45.4% compare
- 2 Ireland 40.2% compare
- 3 Qatar 37.0% compare
- 4 Singapore 35.4% compare
- 5 Luxembourg 31.2% compare
More economy & growth data for Small states
- Gross national expenditure (constant 2015 US$), per unit of GDP 0.7526 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.64 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.4415 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 7,320 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 10.3 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.7767 current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per capita 12,876 current US$ per person (2025)
- Final consumption expenditure (constant 2015 US$), annual growth rate 2.48 % change on previous year (2025)
- Final consumption expenditure (constant 2015 US$), per unit of GDP 0.5833 constant 2015 US$ per US$ of GDP (2025)
- Final consumption expenditure (constant 2015 US$), per capita 9,670 constant 2015 US$ per person (2025)
Frequently asked questions
- What is external balance on goods and services in Small states?
- External balance on goods and services in Small states was 4.7% in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Small states?
- The highest recorded value was 7.1% in 2014.
- What is the lowest external balance on goods and services recorded in Small states?
- The lowest recorded value was -3.8% in 1998.
- How does Small states rank for external balance on goods and services?
- Small states ranks 2nd out of 44 groups with data for 2025.
- Is external balance on goods and services rising or falling in Small states?
- Over the last ten years it is down 17.8%. The long-run trend across the full record is volatile.
- Where does this Small states data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.