The Countries Powering Trade Volume Growth (2019-2024)
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Key Takeaways
- Between 2019 and 2024, China’s trade volume expanded by $828 billion, the highest globally.
- The U.S. followed next in line, with its volume of trade rising by $652 billion.
- India ranked in third, seeing a $261 billion increase, driven by shifting supply chains and strong domestic growth.
In 2024, global trade hit a record $33 trillion, expanding by $1 trillion.
Despite geopolitical challenges, trade remained resilient, fueled by strong U.S. consumer demand and a 12% jump in China’s exports. Notably, newer markets like Africa and India are emerging as China’s fastest-growing export destinations in 2025.
This graphic shows the countries with the largest absolute trade volume growth since 2019, based on data from the DHL Trade Atlas 2025.
The Top 25 Countries by Trade Volume Growth
Below, we show how China and the U.S. dominate the rankings, driving a combined $1.5 trillion in trade volume growth since 2019:
| Ranking | Country | Absolute Trade Growth 2019-2024 |
Annual Trade Volume Growth Rate |
|---|---|---|---|
| 1 |  China |
$828B | 3% |
| 2 |  U.S. |
$652B | 3% |
| 3 |  India |
$261B | 5% |
| 4 |  South Korea |
$244B | 4% |
| 5 |  UAE |
$232B | 7% |
| 6 |  Viet Nam |
$193B | 6% |
| 7 |  Poland |
$163B | 5% |
| 8 |  Malaysia |
$128B | 5% |
| 9 |  Taiwan |
$122B | 3% |
| 10 |  Brazil |
$121B | 4% |
| 11 |  Singapore |
$119B | 3% |
| 12 |  Indonesia |
$115B | 5% |
| 13 |  Ireland |
$115B | 8% |
| 14 |  Switzerland |
$112B | 3% |
| 15 |  Italy |
$112B | 2% |
| 16 |  Türkiye |
$104B | 4% |
| 17 |  Mexico |
$104B | 2% |
| 18 |  Netherlands |
$91B | 1% |
| 19 |  Japan |
$61B | 1% |
| 20 |  Denmark |
$46B | 4% |
| 21 |  Australia |
$45B | 1% |
| 22 |  Thailand |
$45B | 2% |
| 23 |  Spain |
$43B | 1% |
| 24 |  Saudi Arabia |
$38B | 1% |
| 25 |  Romania |
$37B | 3% |
In 2024, China’s total trade value stood at $6.3 trillion, the largest globally.
Given its manufacturing might, it is the world’s largest exporter, and second-largest importer after America. Overall, trade volumes increased by $828 billion in the five-year period, rising at an average annual rate of 3%.
For America, trade volume grew by $652 billion over the period, with its largest trade partners by import value standing as Mexico, China, and Canada. Overall, America’s total trade value stood at $5.4 trillion, trailing China by $900 billion.
As we can see, India ranks in third, with volumes rising by 5% on average annually. Not only that, it is projected to increase its total trade volume by 85% between 2024 and 2029 compared to the previous five-year period. Fueling this trend are its rapidly growing economy and trade-flow shifts as companies diversify supply chains from China.
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To learn more about this topic, check out this graphic on the world’s largest exporters of goods.