If you wanted a single picture of how lopsided Asia’s export story is, the latest WTO numbers provide it. China’s merchandise exports rose 5.5% to $3.77 trillion in 2025. The next economy on the list, Hong Kong, shipped about $754 billion. China sent out five times as much.
A graphic shared by Investywise, powered by Groww, ranks the biggest goods exporters in Asia using 2025 WTO data. Business Connect reviewed the numbers against the WTO’s own tables and the latest Indian trade releases. Here’s what the ranking shows, where India stands, and what has changed since the year ended.
A note on method: the figures count goods only, and include re-exports. Services are excluded. The graphic’s list also counts the UAE and Russia as part of the wider Asian group.
Asia’s Biggest Goods Exporters in 2025: China Towers Over Everyone, India Holds No. 9 and Looks to Move Up (October 2026 Update)
Asia’s Top Goods Exporters, 2025
| Rank | Economy | 2025 goods exports |
|---|---|---|
| 1 | China | $3.77 trillion |
| 2 | Hong Kong | $753.6 billion |
| 3 | Japan | $738.0 billion |
| 4 | UAE | $725.2 billion |
| 5 | South Korea | $709.3 billion |
| 6 | Taiwan | $641.0 billion |
| 7 | Singapore | $566.9 billion |
| 8 | Vietnam | $472.9 billion |
| 9 | India | $445.0 billion |
| 10 | Russia | $422.1 billion |
| 11 | Malaysia | $376.0 billion |
| 12 | Thailand | $339.6 billion |
Add up the other eleven economies and you get roughly $6.2 trillion. China alone, at $3.77 trillion, accounts for almost 38% of the combined total of these twelve.
1. China: In a League of Its Own
The WTO puts China’s 2025 exports at $3.77 trillion, which is about 14.4% of world merchandise exports. Global merchandise exports reached $26.3 trillion in 2025.
China’s growth in 2025 came with a twist. Volumes grew faster than values, at 9.2%, because export prices in China fell. In plain terms, China shipped a lot more, but at lower prices. That helps buyers and hurts rival manufacturers, including Indian ones, who compete on cost.
2. The Trading Hubs: Hong Kong, the UAE and Singapore
Hong Kong, the UAE and Singapore appear high on the list partly because they re-export goods that came from somewhere else. That is why the graphic carries the note “including re-exports.” These economies are less about making things and more about moving them.
Hong Kong’s exports rose 16.74% in 2025 to $753.58 billion. The UAE and Singapore have also built their position by acting as the world’s transit points for energy, electronics, gold and other goods. When you compare India with these three, remember that they’re measuring different things.
3. The Industrial Exporters: Japan, South Korea and Taiwan
Japan, South Korea and Taiwan export mainly manufactured goods such as electronics, semiconductors, machinery and vehicles. Japan’s exports grew 4.43% in 2025, to $738.34 billion. Their strength comes from decades of investment in high-value manufacturing and supply chains that other countries find hard to copy.
4. Southeast Asia: Vietnam Is the Story to Watch
Vietnam is the economy India is closest to, and it’s the one pulling ahead. Vietnam’s exports reached nearly $473 billion in 2025, up more than 16% on the year, putting it 18th among the world’s 30 largest exporters. It has become a go-to base for electronics and other manufacturers moving production out of China.
Malaysia ($376.0 billion) and Thailand ($339.6 billion) sit further down. Both are well integrated into regional electronics and auto supply chains.
5. Russia: Mostly Energy and Commodities
Russia is the odd one out in an “Asia” list, given that it straddles Europe and Asia. Its $422.1 billion in goods exports leans heavily on energy and raw materials, which makes the number vulnerable to oil prices and sanctions.
6. India: No. 9 in This List, No. 19 in the World
India exported about $445.3 billion of goods in 2025, ranking 19th in the world. Within the twelve economies in the graphic, that places India ninth. It beats Russia, Malaysia and Thailand, but trails Vietnam by about $28 billion.
That’s the headline: India is Asia’s third-largest economy but sits mid-table among its exporters. The WTO table shows Vietnam at 18th and India at 19th. The two have been moving in opposite directions in recent years, with Vietnam growing faster.
What Has Changed for India Since 2025
The WTO figures cover calendar year 2025. India’s own trade releases follow the fiscal year (April to March), so the two series don’t match exactly. But the latest Indian data shows a strong pick-up.
Exports are growing fast.
- India’s merchandise exports in April–September 2026 were $259.89 billion, against $219.30 billion in the same period last year. That is growth of 18.51%.
- September 2026 alone saw merchandise exports of $44.40 billion, up 23.04% from a year earlier.
- One data compilation reports that electronic goods exports in September reached $5.31 billion, up 70.44%. Electronics is the category to watch, since it’s also where Vietnam has grown most.
But imports are growing too. India’s merchandise trade deficit for April–September 2026 stood at $177.64 billion, wider than $156.87 billion a year earlier. Services exports help offset it, but the goods gap remains large.
The United States is the biggest market, and the tariff story is still unfinished. India’s merchandise exports to the US rose to $50.81 billion in April–September from $45.73 billion a year earlier. A framework agreed in February cut the punitive US tariff on most Indian goods to 18% from 50%. On October 15, Commerce Minister Piyush Goyal said the first tranche of the bilateral trade agreement has been finalised and is under legal drafting. But there are still hurdles. India wants to make sure it isn’t worse off than competitors, and a new US law could allow tariffs of up to 100% over India’s Russian oil purchases.
Other trade deals are moving.
- The India–UK trade agreement (CETA) entered into force on July 15, 2026. Duty-free access is expected to help sectors such as leather and footwear.
- India and the EU concluded their long-awaited free trade agreement on January 27, 2026. Formal signing is planned for December 2026, with entry into force expected in February–March 2027. The EU’s carbon border tax is a concern for some Indian exporters.
Can India Climb the Ladder?
On pure numbers, the near-term targets are within reach. Vietnam is about $28 billion ahead, a gap India’s current growth rate could close in a short time if momentum holds. Moving past the trading hubs and the industrial giants (Japan, Korea, Taiwan) is a harder task, and it depends on factors that trade analysts often highlight:
- Manufacturing depth. Electronics, machinery and chemicals need local suppliers, not only assembly.
- Cost and speed of logistics. Ports, customs and inland transport affect whether Indian goods can compete on price and delivery time.
- Tariff certainty. The US deal and the EU pact matter because exporters plan years ahead.
- Quality and compliance. Standards on health, safety and the environment can block market access, even where tariffs are zero.
- Diversification. Relying on a few products or one big market adds risk.
India also faces a trade imbalance with China. Reports note a widening deficit with China, where non-tariff barriers remain a hurdle for Indian businesses. Many Indian manufacturers depend on Chinese components, which complicates the “reduce dependence” goal.
What This Means for Businesses
For exporters: The new trade agreements with the UK and (soon) the EU open doors. Check which of your product lines get duty cuts, and prepare for compliance requirements.
For MSMEs: The ranking shows the scale of competition, but it also shows opportunity. Vietnam’s rise suggests that global buyers are actively looking for alternatives to a single supplier.
For investors and policymakers: Watch the electronics numbers, the US tariff outcome and whether import growth stays ahead of export growth.
FAQs
Which is Asia’s biggest goods exporter?
China, with $3.77 trillion of merchandise exports in 2025.
Where does India rank among Asia’s biggest goods exporters?
Ninth in the graphic’s list of twelve, with $445.0 billion. Globally it ranks 19th.
Is India ahead of Vietnam in exports?
No. Vietnam exported about $472.9 billion in 2025, roughly $28 billion more than India.
Why do Hong Kong, Singapore and the UAE rank so high?
Their totals include re-exports, which means goods that pass through and are shipped out again.
Do these figures include services?
No. They cover goods (merchandise) only. India is much stronger in services exports.
How much has India exported so far in FY27?
$259.89 billion of merchandise between April and September 2026, up 18.51%.
Is the India–US trade deal signed?
Not yet. The first tranche is finalised and in legal drafting, but the signing date and final tariff structure are still pending.
The Bottom Line
The 2025 ranking is a reminder that trade power is concentrated, and that India still has a long way to climb. But the 2026 numbers show the momentum is real, with double-digit export growth, a UK pact in force and an EU deal on the way. Whether India closes the gap with Vietnam and moves further up will depend on how well it converts these openings into steady, higher-value exports.
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