The UK's most valuable export and how it compares globally

The world's most lucrative exports

Last year, goods worth $24.5 trillion (£19.5tn) were exported around the globe. But what do some of the world's biggest countries make the most money from?

From oil to eggs, read on to discover the most lucrative exports in 45 key nations, as revealed in the latest data from World's Top Exports. 

All dollar amounts in US dollars unless otherwise stated.

China – electronics

The world's largest exporter of goods – as well as the leading exporter of mobile phones – China made almost $3.4 trillion (£2.7tn) in export sales last year.

Electrical machinery and equipment had the largest market share, accounting for 27% or $899 billion (£716bn) of its total exports. Top among these were smartphones and computers.

Poland – machinery, including computers

Like many highly industrialised countries, Poland derives a large portion of its export earnings from trading in machinery, including computers.

Last year, the European nation made $50 billion (£40bn) from the sector, which constituted 13.1% of its total shipments. 

India – mineral fuels, including oil

India exported goods worth $360 billion (£287bn) in 2022, the most recent year for which World's Top Exports has available data.

Topping the list of its biggest exports two years ago were mineral fuels (including oil), which brought $42.6 billion (£34bn) into the country.

India was also a world leader in the export of diamonds, with gems and precious metals accounting for 11% of the nation's total exports.

Ireland – pharmaceuticals

Pharmaceuticals accounted for 34.2% of Ireland's total exports in 2023. That equates to around $71.7 billion (£57bn).

According to World's Top Exports, the total value of Ireland's exports – which was $209.5 billion (£167bn) last year – works out at around $39,900 (£31.8k) per capita.

Pictured: a Pfizer plant in Newbridge, County Kildare.

France – machinery, including computers

Think of France and you might find yourself daydreaming about cheese and fine wine. However, the country actually makes the most money from decidedly less glamorous commodities: machinery, vehicles (including aircraft and spacecraft), and pharmaceuticals, to be precise.

Machinery, including computers, represented 11.6% of the country's total exports in 2023, bringing in $73.6 billion (£58.7bn).

Brazil – mineral fuels, including oil

Mineral fuels (including oil) made up 16.2% of Brazilian exports last year, bringing $55.1 billion (£43.9bn) into the South American country. That's a slight dip from 2022 when mineral fuels comprised around 17% of exports and brought in $56.9 billion (£45.3bn).

Brazil's top trading partners are China, the US, and Argentina. China imported a whopping 30.7% of Brazil's total exports in 2023.

Spain – vehicles

Producing almost two million cars in 2023, Spain attributed 15.8% of its export revenue last year to its auto industry.

This percentage has been falling since 2016, when vehicles accounted for 17.6% of the country's exports. Despite this, Spain's vehicle revenue has actually increased from $50.8 billion (£40.5bn) to $67.1 billion (£53.5bn) over the last seven years.

Greece – mineral fuels, including oil

The Greek economy is still struggling to recover from the 2008 financial crisis. When it comes to exports, its biggest earners are mineral fuels (including oil), which represented 32.3% of the country's total exports or $17.8 billion (£14.2bn) in 2023.

That's a huge increase from 2016, when oil brought in just $8.4 billion (£6.7bn), though a slight dip from 2022 when Greece made $21 billion (£16.7bn) from the so-called "black gold".

Argentina – cereals

Argentina's most lucrative exports are cereals, including corn. This product group contributed $8.1 billion (£6.5bn) to the country's economy in 2023, representing 12.1% of Argentina's total exports.

Brazil, China, and the US were the biggest buyers. 

Liking this? Click the Like button above. And click the Follow button above for more great stories from loveMONEY

Colombia – mineral fuels, including oil

Around 28% of Colombia's exports were destined for the United States last year, and the most lucrative product group was mineral fuels, including oil.

These exports represented a significant 50.5% of the Latin American country's outgoings and brought in $25 billion (£19.9bn). 

South Africa – gems and precious metals

The mining industry is a key part of South Africa's economy, and its gold and diamonds are famed around the globe.

It's little surprise, then, that gemstones and precious metals were collectively its biggest export in 2023, constituting 17.7% of the total, or $19.5 billion (£15.5bn).

Qatar – mineral fuels, including oil

Unsurprisingly, oil-rich Qatar counts mineral fuels (including oil) as its most lucrative export.

This sector brought in $95.3 billion (£75.9bn) in 2022, the most recent year for which World's Top Exports has data, and represents a massive 87.7% of the nation's total shipments. 

Japan – machinery including computers

The home of no less than Honda, Mitsubishi, Nissan, and Toyota, Japan exported $156.7 billion (£125bn) worth of vehicles in 2023.

Japan had been the world's biggest car exporter for years. However, in recent years it's been overtaken by Germany and China, with the People's Republic revving up both its vehicle production and overseas sales. 

Canada – mineral fuels, including oil

Last year, Canada exported goods worth a grand total of $568.3 billion (£453bn), a dip of 5.1% from 2022.

Mineral fuels, including crude oil, were its most lucrative export and accounted for 25.2% of total sales; this figure is down from 30.2% the year before. Vehicles, machinery, gems, and wood make up the rest of Canada's top five.

Mexico – vehicles

The world's seventh largest automobile manufacturer in 2023 (according to Statista), Mexico makes an impressive sum from its exports of vehicles.

In 2022, the country sold $136.1 billion (£108bn) worth of cars and trucks, representing 23.5% of its total shipments. 

Norway – mineral fuels including oil

Norway's oil reserves provided the country with a healthy export income in 2023 – mineral fuels (including oil) made up 68.4% of the Nordic nation's exports last year, generating $121.5 billion (£96.8bn) in return.

Norway has seen a sharp decline from back in 2022, when oil made up 78.9% of the country's exports and brought in a record-breaking $213.3 billion (£170bn). Nonetheless, oil is still a serious moneymaker, and last year's figures are the second-highest ever seen in the country.

United Kingdom – gemstones, precious metals

According to World's Top Exports, the UK's top export in 2023 – somewhat surprisingly – was precious metals and gemstones.

(It's worth noting this doesn't correlate with official data from the UK government, which claims cars took the top spot between February 2023 and February 2024.)

The data from World's Top Exports suggest that precious metals and gemstones accounted for 16.7% of the UK's total exports last year, bringing in $86.6 billion (£69bn).

Italy – machinery, including computers

Machinery, including computers, is Italy's biggest export.

The European nation exported $116.8 billion (£93.1bn) worth of the technology last year, which accounted for 17.3% of its shipments. Nearby Germany and France were two of its biggest customers.

Australia – mineral fuels, including oil

Australia exported $370.9 billion (£296bn) worth of goods in 2023.

Of the grand total, 34% was generated by mineral fuels, including oil. These commodities brought in $125.9 billion (£100bn), making them the most lucrative export Down Under.

Malaysia – electrical machinery

While you might expect Malaysia's most lucrative exports to be clothing or palm oil, 38.1% of the country's 2023 revenue actually came via electrical machinery, which generated $119.1 billion (£95bn). 

Almost three-quarters of its total shipments were destined for its fellow Asian nations, with China and Singapore its two biggest markets.

Germany – vehicles

The largest economy in Europe, Germany exported a whopping $293.6 billion (£234bn) worth of vehicles last year.

Back in 2022, Germany was the world's leading exporter of cars by a significant margin, providing around 20% of the world's supply. 

Chile – ores, slag, and ash

Chile made $28.6 billion (£22.8bn) from exports of ores, slag, and ash last year, which accounted for 28.5% of its total outgoing products.

The South American nation also made megabucks – $20.4 billion (£16.3bn), to be precise – trading in copper ores, which is no surprise given it's the world's number-one copper producer by a considerable margin.

Switzerland – gemstones, precious metals

Affluent Switzerland makes a mint selling everything from chocolate to clocks.

However, the country generates the most money by trading gemstones and precious metals. These sparkling outgoings made up 30.3% of its total exports last year, with a value of $127.2 billion (£101bn).

Austria – machinery, including computers

Austria is another wealthy European country that counts machinery, including computers, among its biggest exports.

The sector generated $38.2 billion (£30.4bn) last year, representing 17.1% of its total shipments. 

Russia – mineral fuels, including oil

All eyes have been on the Russian economy since the country invaded Ukraine in February 2022. Global sanctions and trade embargoes have meant many nations are shunning Russian exports – but that didn't stop the country from making $348.3 billion (£273bn) from mineral fuels, including oil, by the end of that year. 

World's Top Exports doesn't have data for Russia for 2023, but the nation is thought to have made record profits from exporting oil last year, with China its biggest trading partner.

Just as the Russian Federation is reliant on the money it makes from oil, many countries are equally reliant on the nation's oil and gas reserves for energy, resulting in an ongoing stand-off between Putin and the West.

Pakistan – knit or crochet clothing, accessories

Pakistan's biggest exports in 2022, the latest year for which World's Top Exports has data, were knit or crochet clothing and accessories.

The South Asian country shipped out $5.9 billion (£4.7bn) worth of the items, predominantly to the US and mainland China. This category was closely followed by textiles and worn clothing, which brought in $5.8 billion (£4.6bn).

New Zealand – dairy, eggs, and honey

New Zealand is highly reliant on its agricultural sector, which accounts for almost all of its 10 most lucrative exports. At the top of the list are dairy, eggs, and honey, which collectively represented $12.2 billion (£9.7bn), or 30.7%, of its total trade last year. 

The world's biggest exporter of dairy products is the New Zealand-based firm Fonterra.

Sweden – machinery, including computers

In 2023, Sweden sold $30.3 billion (£24.1bn) worth of machinery including computers to foreign markets – principally Norway, Germany, and the US. This accounted for 15.3% of the country's total exports. 

Venezuela – mineral fuels, including oil

Venezuela is highly reliant on revenue from its petroleum oil exports.

In 2022, the most recent year for which World's Top Exports holds data for it, the Latin American nation exported $1.2 billion (£956m) worth of mineral fuels (including oil), which represented 26.1% of its total exports. 

This category was Venezuela's fastest-growing export that year, rocketing by a staggering 1,069% from 2021 to 2022.

Bangladesh – knit or crochet clothing, accessories

One of the world's largest exporters of clothing, Bangladesh derives an enormous 92.5% of its total export income from the apparel and textile industries.

Within this, knit or crochet clothing is its most lucrative export, generating $31 billion (£24.7bn) in 2022, the latest year for which World's Top Exports has data.

Philippines – electrical machinery

A total of $78.9 billion (£62.9bn) worth of goods came from the Philippines in 2022, the latest year for which World's Top Exports holds data.

Of that, $43.6 billion (£34.7bn) was generated from the export of electrical machinery and equipment, which accounted for 55.2% of all the country's shipments. 

Saudi Arabia – mineral fuels, including oil

No prizes for guessing this one. According to World's Top Exports' latest data, mineral fuels including oil made up a colossal 83.8% of total Saudi exports in 2022, generating $268.5 billion (£214bn) in the process.

Jamaica – beverages, spirits, and vinegar

World famous for its rum, the Caribbean island nation of Jamaica garners a big chunk of its export revenue from selling beverages, spirits, and vinegar.

According to the most recent World's Top Exports data, which comes from 2022, that particular category represented 21.9% of the country's total exports, or $186.1 million (£148m).

Türkiye – vehicles

While rugs might be one of this nation's most famous exports, Türkiye actually makes the most money from shipping vehicles.

Producing 1,468,393 passenger cars in 2023 alone, Türkiye made $30.8 billion (£24.5bn) from exporting its vehicles around the globe last year. 

Iran – plastics, plastic articles

Mineral fuels have long been Iran's top export. However, in 2023 the nation made almost twice as much money from exporting plastics and plastic articles as it did from shipments of "black gold".

Iran, one of the world's most polluted countries, made $3.5 billion (£2.8bn) from plastic in 2023 and $1.8 billion (£1.4bn) from mineral fuels, including oil.

Egypt – mineral fuels, including oil

Egypt makes a significant chunk of its export income by selling oil on the international market.

In fact, mineral fuels (including oil) represented 37.3% of its total exports in 2022, according to World's Top Exports' latest data. That amounts to around $18 billion (£14.3bn).

South Korea – electrical machinery

South Korea generated $171.3 billion (£136bn) from trading electrical machinery in 2023, which was by far its largest export. This sector accounted for 27.1% of its outgoing shipments.

This was followed by vehicles, which made up 14.5% of the country's total exports.

USA – mineral fuels, including oil

Shipping an enormous $2.019 trillion (£1.6tn) worth of goods last year, the USA is one of the biggest exporters in the world.

Like many countries in our round-up, topping the list of America's moneymakers are mineral fuels (including oil), which accounted for 16% of its total exports last year. That amounts to a tidy $323.2 billion (£258bn).

Portugal – vehicles

Vehicles constituted 12.4% of Portugal's exports last year, generating $10.4 billion (£8.3bn) and cementing its spot as the world's 29th largest car producer.

According to The Portugal News, more than 97% of vehicles made in Portugal are destined for export.

Hong Kong – electrical machinery

An economic powerhouse, Hong Kong sold $371.7 billion worth (£296bn) of electrical equipment to overseas markets in 2022, according to World's Top Exports' latest data. This represented an incredible 60.8% of its total exports.

Hong Kong is currently the world's largest exporter of electronic circuit components. 

Indonesia – mineral fuels, including oil

Mineral fuels (including oil) represented a hefty 23% of Indonesia's exports last year, accounting for a total of $59.5 billion (£47.4bn).

However, the nation's oil exports have actually dropped over the last few years; the commodity represented more than 29% of its shipments back in 2015. 

Pictured: an oil drilling platform in Indonesia's Jayawijaya Mountains.

Taiwan – electrical machinery

As the world's second-largest exporter of electronic circuit components, it's unsurprising that electronics are the biggest moneymaker for Taiwan.

Last year saw the country export $222.5 billion (£177bn) worth of the goods, principally to mainland China and the US. This represented 51.5% of its total export revenue, with electronic integrated circuits and related microassemblies alone accounting for 38.5% of the total.

Nigeria – mineral fuels, including oil

Nigeria is known for its crude oil production, exporting more of the substance than any other African nation. 

The commodity accounted for a whopping 90.7% of Nigeria's total outgoings and generated $57.5 billion (£45.8bn) for the economy in 2022.

Singapore – electrical machinery, equipment

Singapore is one of the world's top manufacturers of electrical equipment. As such, this sector represented a solid chunk (34%) of its total exports in 2023, bringing in $161.7 billion (£129bn).

United Arab Emirates – mineral fuels, including oil

Much like Saudi Arabia and Qatar, mineral fuels, including oil, are the most lucrative export in the United Arab Emirates.

In 2022, the UAE shipped out $213.4 billion (£169bn) worth of oil, accounting for a phenomenal 68.6% of the nation's total exports.

Now discover the once-poor countries that are now rich

Liked this? Click the Like button above. And click the Follow button above for more great stories from loveMONEY