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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.

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.

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.

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).

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 industrialized 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.

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.

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.

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.

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.

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Naomi Watts urges women to own menopause

Oscar-nominated actress Naomi Watts has continued to have fame on the screen into her 50s, but she is building more of her life story around navigating deeply personal and often unspoken health and aging issues.She has become increasingly open about topics many public figures, and Hollywood actresses in particular, avoid, using her platform to normalize conversations regarding fertility, aging, and physical changes, with the goal of helping women feel confident in their body no matter their age.

“I am trying to put forward the messaging that we can be okay with how we look,” Watts told CNBC’s Julia Boorstin at the CNBC Changemakers Summit in New York City on Thursday. “It’s okay to be 57 and look 57.”

Watts launched Stripes Beauty in 2022, a company focused on helping women navigate the challenges associated with perimenopause and menopause, while aiming to address everything from skin to hair changes to overall wellness.

Menopause was considered very taboo to talk about in many cultures mainly because of the age-fertility link and generational gatekeeping. In many societies a woman’s “value” was tied to her youth and ability to bear children. Talking about menopause meant admitting those stages were over. Many women in different generations were taught to silence it and view it as a private burden and not share it.

At the Changemakers Summit, Watts said searched for reasons to help explain why no one talked about it, and even used an anonymous Instagram to search for clues. “Why isn’t there any information? Why is it so hard? Why is it so taboo when we are half the population?” she said. “It is just biology.”

Founder and chief creative officer at Stripes Beauty, Watts was featured on the 2025 CNBC Changemakers list.

Menopause typically occurs around ages 45 to 55 and gets diagnosed after a woman does not get her period for 12 months. According to information from Midi Health, whose CEO Joanna Strober was also named to the 2025 CNBC Changemakers list, 6,000 women hit menopause every day in the U.S., which equates to 1.3 million women annually, while four in five midlife women experience symptoms of menopause, such as hot flashes.

Watts experienced early menopause in her mid-30s. She faced the common symptoms like night flashes and hot flashes. Watts has said in the past that she felt as if “I didn’t have control over my own body.”

Stripes Beauty has expanded into major retailers like Ulta Beauty and Sephora, with the once niche, uncomfortable category now becoming a mainstream part of women’s consumer health and beauty. The company was acquired in a deal between Watts and private investment firm L Catterton, which is backed by Louis Vuitton parent company LVMH, in 2024. It launched “National Hot Flash Day,” celebrated Sept. 9, to reinforce the message that the menopause journey is a completely natural and shared experience.

Watts says women should make “a bet on themselves” no matter what society is telling, or not telling, them.

“After 50, I have felt so much better about knowing who I am, so much more comfortable in my skin,” she said. “Stay connected to women. Women are everything. I am nothing without the community of women I have around me.”

Watts said in the past, when people came up to her in public, she often worried that requests to take selfies would follow, and she couldn’t help but think about being pictured without makeup on. But she says her menopause advocacy in recent years has changed many of these public interactions. “They’re coming up to me with tears in their eyes sometimes, or just wanting to say thank you for giving me the permission, or the dialogue, so I could speak with my husband or partner or family members and not have shame about it. … that gives me great joy. It’s so heartening to know the risk I took had a meaningful effect on others.”

CNBC

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Dubai gold rises for a third day after its worst month since 2008.

Dubai gold prices moved higher early Wednesday, extending a short-term rebound after a sharp correction through March that unsettled buyers and traders alike.

At 8:22 am, 24K gold stood at Dh566.75, up from Dh563.25 a day earlier, while 22K rose to Dh525 from Dh521.50. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and India.)

The uptick follows a volatile month where prices dropped nearly 12%, marking the steepest monthly decline since October 2008. That slide has reset expectations across the market, with buyers returning in phases rather than rushing in.

Peak to pullback

Gold had surged to levels above $4,700 an ounce in recent sessions, recovering from a broad sell-off triggered by rising US Treasury yields and a stronger dollar.

The shift in direction reflects a wider change in market positioning. Investors who once turned to gold for protection during geopolitical stress instead moved toward yield-bearing assets, particularly as expectations of interest rate cuts faded.

Ahmad Assiri, Research Strategist at Pepperstone, said gold’s behaviour through March marked a clear break from its traditional role.

“Gold’s failure to serve as a safe haven throughout March highlights a dramatic shift in the global macro landscape,” he said.

He added that rising yields and a stronger dollar “forced a painful downside repricing of the yellow metal,” with investors moving away from expectations of monetary easing and pricing in tighter conditions.

War outlook shifts sentiment

Recent gains have been supported by signs that tensions in the Middle East may ease, with market attention shifting from immediate conflict risks to longer-term economic implications.

Comments from US President Donald Trump suggesting a potential resolution within weeks have lifted equities and softened the dollar, creating space for gold to stabilise.

Bond traders have also reduced bets on aggressive rate hikes, focusing instead on growth risks tied to the conflict. That recalibration has helped bullion regain some ground, though conviction remains limited.

Buyers weigh timing

Despite the rebound, the broader trend still reflects caution. Prices remain well below mid-March peaks, when 24K gold crossed Dh600, highlighting the scale of the recent correction.

Assiri pointed to deeper structural shifts shaping demand.

“The market chose the yield of the dollar and the volatility of oil over the safety of gold,” he said, noting that capital moved toward assets offering stronger returns during the height of uncertainty.

That dynamic is likely to keep buyers selective in the near term. Jewellery shoppers and investors in the UAE are watching for clearer signals on rates and geopolitical stability before committing in size.

Outlook steadies, but not settled

Some global banks continue to maintain a constructive view on gold over the longer term, citing central bank demand and the possibility of rate cuts later this year.

Still, the near-term outlook remains tied to macro signals. Movements in yields, the dollar and energy markets are now playing a more decisive role than geopolitical headlines alone.

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China Suppliers Warn US Prices to Rise Over Hormuz Closure

Pickleball paddle producer Devi Wei has a message for U.S. shoppers.

“Americans will have to pay more,” the Chinese businessman told CNBC at a Beijing trade show last week at the China International Exhibition Center.

Because of the recent swings in oil prices resulting from the Iran war and closure of the Strait of Hormuz, Wei, who founded his own exporting business, Huijin Trade, has had to hike prices on his paddles and pickleballs by as much as 20%, he said.

Wei’s goods are made with polypropylene, a plastic material derived from oil and made in the Middle East, a dominant producer in the global industry. The war in Iran has stalled shipments of oil and its products through the Strait of Hormuz, raising concerns among Chinese manufacturers at the trade fair about further disruption across the global supply chain.

“I might have to go even higher,” Wei said. “Maybe double if the Iran war doesn’t stop soon.”

Surging oil prices are filtering into prices of all kinds of products that rely on the commodity for manufacturing.

James Li, who makes scarves and said he sells a third of his inventory to the U.S., has marked up his polyester products by 5%.

“This scarf is 30% polyester,” Li told CNBC from his trade show booth. “We will definitely pass on the extra cost to our customers.”

Wang Mingming, a general manager of toy manufacturer Jinming Gifts, said he is hoarding two months’ worth of the plastic polymer PVC, but isn’t sure he can hold off charging more for his figurines.

“In our industry, these materials are almost irreplaceable,” Wang said. “If oil prices rise any further, we really won’t be able to manage.”

Cameron Johnson, senior partner at Shanghai-based supply chain consultancy Tidalwave Solutions, said he foresees competition for oil-related products among entire sectors if the crisis at the Strait of Hormuz isn’t resolved soon. A prolonged impasse in the critical waterway also raises the possibility of product shortages.

“If this goes on into May, everyone will be in big trouble and there will be triage between industries,” Johnson said, predicting autos and the medical field would be granted higher priority. “There is no visibility when new supply will come.”

Perhaps the biggest worry among China’s manufacturers is what costlier oil will mean for discretionary spending by consumers worldwide.

More money for gas means less for Wei’s pickleballs.

“Ordinary people are getting squeezed the most from the high oil price,” he said. “Their spending power just isn’t what it used to be.

CNBC