Trade Balance by Country

What is Trade Balance?

The trade balance is the difference between a country's exports and imports of goods (and sometimes services). A surplus means a country sells more abroad than it buys; a deficit means the reverse. It is reported monthly in most major economies.

Why it matters for FX

Persistent trade balances affect currency demand mechanically: exporters convert foreign-currency receipts into the home currency, importers do the opposite. Surplus countries (Japan, Germany, Switzerland historically) have a structural bid for their own currency through this channel; deficit countries (US, UK) rely on capital inflows to balance the books.

How to read this page

Read the level alongside the year-over-year change. Compare with current_account_balance for the broader external picture, and with terms_of_trade for commodity currencies (AUD, CAD, NZD) where price effects dominate volume effects.

What to watch for

• Energy-trade dynamics for net energy importers vs exporters
• Terms of trade swings driving the deficit / surplus path
• Seasonal patterns in goods trade
• Re-exports distorting headline trade flows (Singapore, NL)
• Tariffs and trade-policy shocks