Indonesia and Russia are among the major economies with lowest dependence on exports, as according to calculations
Russia is expected to become the sixth among the world's largest economies in 2024 in terms of dependence on exports, RIA Novosti calculations based on data from national statistical services revealed on Sunday.
RIA Novosti has analysed data on the ratio of the export value of goods and services in 2024 to gross domestic product (GDP) of the 25 countries with the largest nominal size of their economies.
The average dependence on foreign supplies in these countries amounted to 40.7 %.
According to the results of last year, Russia's dependence on exports was half of the world average, only 21.9 %.
The exports of India (21 %) and China (21.1 %), which ranked fourth and fifth, respectively, as well as Indonesia (22.2 %), Australia (23.7 %) and Japan (22.8 %), which ranked seventh to ninth, accounted for approximately the same percentage of GDP.
The United States is the country least dependent on exports, with foreign supplies of goods and services accounting for only 10.9 % of the economy. Argentina (15.3 %) and Brazil (17.9 %) are also among the three countries with the lowest share of exports as a proportion of GDP.
In contrast, Germany (41.8 %), South Korea (44.6 %), Poland (52.7 %), Switzerland (72.2 %), and the Netherlands (84.2 %) accounted for an above-average share of exports as a share of GDP.
Ireland became the absolute leader, with a record 147.6 % of GDP in exports of goods and services, a record for large economies. -
Bernama-Sputnik/RIA Novosti
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