Trade in Small states
Small states: Trade was 139.8% in 2024. ▲ Rising
Trade in Small states, 1993–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2024, trade in Small states stood at 139.8%.
Compared with earlier readings it is down 2.7% on the previous year and up 10.1% over ten years.
Over the whole period, trade in Small states peaked at 153.3% in 2022 and was at its lowest, 105.3%, in 2009.
Small states ranks 2nd of 41 groups on this measure, in the top 10%.
The long-run direction has been consistently rising across the 32 years of available data.
Trade in Small states, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1993 | 109.0% | — |
| 1994 | 110.9% | +1.8% |
| 1995 | 115.8% | +4.4% |
| 1996 | 117.8% | +1.7% |
| 1997 | 117.7% | -0.1% |
| 1998 | 118.3% | +0.5% |
| 1999 | 115.2% | -2.7% |
| 2000 | 117.3% | +1.8% |
| 2001 | 115.2% | -1.8% |
| 2002 | 111.7% | -3.1% |
| 2003 | 106.4% | -4.8% |
| 2004 | 108.4% | +1.9% |
| 2005 | 110.6% | +2.0% |
| 2006 | 112.0% | +1.3% |
| 2007 | 111.5% | -0.4% |
| 2008 | 115.3% | +3.4% |
| 2009 | 105.3% | -8.7% |
| 2010 | 114.1% | +8.4% |
| 2011 | 124.0% | +8.6% |
| 2012 | 126.0% | +1.7% |
| 2013 | 128.8% | +2.2% |
| 2014 | 127.0% | -1.4% |
| 2015 | 125.7% | -1.0% |
| 2016 | 123.1% | -2.1% |
| 2017 | 125.1% | +1.7% |
| 2018 | 127.5% | +1.9% |
| 2019 | 129.3% | +1.5% |
| 2020 | 122.6% | -5.2% |
| 2021 | 137.3% | +11.9% |
| 2022 | 153.3% | +11.7% |
| 2023 | 143.7% | -6.2% |
| 2024 | 139.8% | -2.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 115.0% | 109.0% | 118.3% | 7 |
| 2000s | 111.4% | 105.3% | 117.3% | 10 |
| 2010s | 125.1% | 114.1% | 129.3% | 10 |
| 2020s | 139.3% | 122.6% | 153.3% | 5 |
Countries ranked near Small states
- 1 Hong Kong 396.6% compare
- 2 Luxembourg 349.9% compare
- 3 San Marino 341.0% compare
- 4 Singapore 320.3% compare
- 5 Ireland 240.0% compare
More economy & growth data for Small states
- Services, value added 163.36 billion constant 2015 US$ (2025)
- Manufacturing, value added 19.20 billion constant 2015 US$ (2024)
- Manufacturing, value added 7.8% (2024)
- Industry (including construction), value added 81.58 billion current US$ (2025)
- Trade in services 69.2% (2024)
- Industry (including construction), value added 9.8% (2025)
- Industry (including construction), value added 24.2% (2025)
- Services, value added 214.20 billion current US$ (2025)
- Gross value added at basic prices (GVA) 247.79 billion constant 2015 US$ (2025)
- Gross value added at basic prices (GVA) 307.40 billion current US$ (2025)
Frequently asked questions
- What is trade in Small states?
- Trade in Small states was 139.8% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest trade recorded in Small states?
- The highest recorded value was 153.3% in 2022.
- What is the lowest trade recorded in Small states?
- The lowest recorded value was 105.3% in 2009.
- How does Small states rank for trade?
- Small states ranks 2nd out of 41 groups with data for 2024.
- Is trade rising or falling in Small states?
- Over the last ten years it is up 10.1%. The long-run trend across the full record is rising.
- 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 Trade (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 32 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Trade is the sum of 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.