Trade Balance (Percent of GDP)

Europe Ranking

as percent of GDPSource: United Nations

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Luxembourg	33.09	2020	1	30.86
2 ↑	Ireland	22.27	2020	16	3.52
3 ↓	San Marino	20.73	2019	2	23.71
4 ↑	Netherlands	10.41	2020	6	9.8
5 ↓	Malta	9.61	2020	3	14.78
6 ↑	Lithuania	9.29	2020	11	5.26
7	Slovenia	9.23	2020	7	8.65
8 ↓	Switzerland	8.79	2020	5	11.85
9 ↓	Angola	8.67	2020	4	14.4
10 ↓	Czech Republic	6.83	2020	9	5.99
11 ↑	Poland	6.79	2020	12	4.76
12 ↓	Denmark	6.45	2020	8	7.39
13 ↑	Faroe Islands	6.14	2019	22	1.74
14 ↓	Germany	5.73	2020	10	5.65
15 ↓	Sweden	4.58	2020	14	4.18
16 ↑	Italy	3.69	2020	18	3.31
17 ↑	Belarus	3.12	2020	30	-0.66
18 ↓	Austria	2.87	2020	17	3.41
19 ↑	Hungary	1.7	2020	21	2.32
20 ↓	Bulgaria	1.47	2020	19	3.23
20	Spain	1.47	2020	20	2.93
22 ↑	Belgium	1.41	2020	24	0.66
23 ↑	Latvia	1.17	2020	31	-0.71
24 ↑	Slovakia	0.93	2020	26	0.4
25 ↓	Estonia	0.48	2020	15	4.16
26 ↑	Finland	0.34	2020	28	0.16
27 ↑	United Kingdom	0.13	2020	32	-0.92
28 ↓	Iceland	-0.73	2020	13	4.53
29 ↓	Norway	-0.84	2020	23	1.48
30 ↑	Ukraine	-1.05	2020	36	-8.05
31 ↑	France	-2.02	2020	33	-0.96
32 ↓	Portugal	-2.11	2020	25	0.45
33 ↓	Cyprus	-2.53	2020	27	0.21
34 ↑	Romania	-4.46	2020	35	-4.12
35 ↓	Croatia	-6.76	2020	29	-0.31
36 ↓	Greece	-7.61	2020	34	-1.73
37 ↑	Serbia	-8.28	2020	38	-9.93
38 ↑	Armenia	-9.96	2020	39	-13.41
39 ↑	Macedonia	-12.79	2020	41	-13.76
40 ↑	Bosnia and Herzegovina	-13.96	2020	42	-14.72
41 ↓	Albania	-14.75	2020	40	-13.67
42 ↓	Georgia	-19.29	2020	37	-8.96
43 ↑	Moldova	-22.62	2020	44	-24.77
44 ↓	Montenegro	-35.01	2020	43	-21.15

Definition of Trade Balance (Percent of GDP)

External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).