Global ranking · 49 economies · World Bank data
Foreign Exchange Reserves by Country 2026
Foreign Exchange Reserves by Country 2026: 49 economies ranked by foreign-exchange reserves, with nominal & PPP figures, 10-year trends, regional breakdowns, charts and a downloadable dataset. China leads at $3.75 trillion; Sweden ranks 33rd of 49 at $74.2 billion (2025). Source: World Bank. Free to cite.
Executive summary
This index ranks 49 of the world's largest economies by foreign-exchange reserves, using World Bank Open Data for cross-country comparability, and goes beyond a single snapshot: it shows the nominal figure, a ten-year history, a regional breakdown and the biggest movers. China leads at $3.75 trillion (2025); Iceland is lowest among those ranked at $7.7 billion. Sweden ranks 33rd of 49 at $74.2 billion (2025). As reference points, the EU stands at n/a, the OECD at n/a and the world at n/a. Every figure carries its World Bank series and reference year, and the complete dataset is free to download as CSV and JSON under a CC BY 4.0 licence.
Key findings
China tops the ranking
China has the highest foreign-exchange reserves among the 49 economies in this index at $3.75 trillion (2025).
Source: World Bank Open Data · 2025 · confidence: High
Where Sweden ranks
Sweden ranks 33rd of 49 at $74.2 billion (2025), above the OECD reference of n/a.
Source: World Bank Open Data · 2025 · confidence: High
Top five
The five highest by foreign-exchange reserves are China ($3.75 trillion), United States ($1.39 trillion), Japan ($1.37 trillion), Switzerland ($1.08 trillion), India ($700.1 billion).
Source: World Bank Open Data · 2025 · confidence: High
Data vintage — July 2026
Figures reflect the most recent year available in the World Bank Open Data API for each economy (shown next to every value). This index of foreign-exchange reserves by country regenerates automatically as new data is published.
Overview
Foreign-exchange reserves — the stock of foreign currency and gold a central bank holds — are a buffer against crises and a gauge of external strength. This index ranks countries by total reserves (World Bank, compiled from IMF).
The largest reserves are held by big exporters and economies that manage their currencies, above all in Asia; reserves underpin confidence in a country's ability to meet external obligations and defend its currency.
What drives the ranking
Reserves accumulate through trade surpluses and capital inflows and through deliberate central-bank policy (currency management, self-insurance after past crises). Reserve-currency issuers like the US need fewer reserves.
Reserve adequacy — relative to imports and short-term debt — matters more than the raw total, which naturally favours the largest economies.
How it has changed over time
The chart tracks foreign-exchange reserves for China (the current leader) against Sweden over the past decade; the table below shows the top economies year by year.
| Country | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| China | $3.17 trillion | $3.22 trillion | $3.36 trillion | $3.43 trillion | $3.31 trillion | $3.45 trillion | $3.46 trillion | $3.75 trillion |
| United States | $449.9 billion | $516.7 billion | $628.4 billion | $716.2 billion | $706.6 billion | $773.4 billion | $910.0 billion | $1.39 trillion |
| Japan | $1.27 trillion | $1.32 trillion | $1.39 trillion | $1.41 trillion | $1.23 trillion | $1.29 trillion | $1.23 trillion | $1.37 trillion |
| Switzerland | $787.0 billion | $854.9 billion | $1.08 trillion | $1.11 trillion | $923.6 billion | $863.9 billion | $909.4 billion | $1.08 trillion |
| India | $399.2 billion | $463.5 billion | $590.2 billion | $638.5 billion | $567.3 billion | $627.8 billion | $643.0 billion | $700.1 billion |
| Russia | $468.6 billion | $555.2 billion | $596.8 billion | $632.2 billion | $581.7 billion | $597.2 billion | $608.4 billion | — |
| Germany | $198.0 billion | $224.0 billion | $268.4 billion | $295.7 billion | $293.9 billion | $322.7 billion | $377.9 billion | $572.2 billion |
| Saudi Arabia | $509.5 billion | $515.0 billion | $472.9 billion | $473.9 billion | $478.2 billion | $457.9 billion | $463.9 billion | $505.2 billion |
By region
Median foreign-exchange reserves by world region among the ranked economies. Regional medians reveal patterns the country ranking alone can hide.
| Region | Economies | Median | Highest | Lowest |
|---|---|---|---|---|
| Europe | 23 | $90.6 billion | $1.08 trillion | $7.7 billion |
| Asia-Pacific | 12 | $219.4 billion | $3.75 trillion | $28.2 billion |
| Americas | 7 | $125.6 billion | $1.39 trillion | $41.0 billion |
| Middle East & Africa | 7 | $185.6 billion | $505.2 billion | $46.0 billion |
Biggest movers
The largest changes in foreign-exchange reserves over the available window — where the action has been.
| Country | Change | Δ | Period |
|---|---|---|---|
| United States | $628.4 billion → $1.39 trillion | +757077396138.4 | 2020–2025 |
| China | $3.36 trillion → $3.75 trillion | +391504077384.2 | 2020–2025 |
| Germany | $268.4 billion → $572.2 billion | +303793354784.5 | 2020–2025 |
| Italy | $210.7 billion → $434.0 billion | +223327189201.6 | 2020–2025 |
| France | $224.2 billion → $428.2 billion | +203971955648.0 | 2020–2025 |
| United Arab Emirates | $106.7 billion → $292.3 billion | +185617690244.0 | 2020–2025 |
| Poland | $154.2 billion → $271.8 billion | +117585980761.7 | 2020–2025 |
| India | $590.2 billion → $700.1 billion | +109846438311.8 | 2020–2025 |
Full ranking — 49 economies
Complete ranking by foreign-exchange reserves, most recent World Bank data, with world region. Region aggregates (EU, OECD, World) appear in the At-a-glance box as reference points.
| # | Country | Foreign-Exchange Reserves | Region | Year |
|---|---|---|---|---|
| 1 | China | $3.75 trillion | Asia-Pacific | 2025 |
| 2 | United States | $1.39 trillion | Americas | 2025 |
| 3 | Japan | $1.37 trillion | Asia-Pacific | 2025 |
| 4 | Switzerland | $1.08 trillion | Europe | 2025 |
| 5 | India | $700.1 billion | Asia-Pacific | 2025 |
| 6 | Russia | $608.4 billion | Europe | 2024 |
| 7 | Germany | $572.2 billion | Europe | 2025 |
| 8 | Saudi Arabia | $505.2 billion | Middle East & Africa | 2025 |
| 9 | South Korea | $436.6 billion | Asia-Pacific | 2025 |
| 10 | Italy | $434.0 billion | Europe | 2025 |
| 11 | Singapore | $432.1 billion | Asia-Pacific | 2025 |
| 12 | France | $428.2 billion | Europe | 2025 |
| 13 | Brazil | $358.5 billion | Americas | 2025 |
| 14 | United Arab Emirates | $292.3 billion | Middle East & Africa | 2025 |
| 15 | Thailand | $282.3 billion | Asia-Pacific | 2025 |
| 16 | Poland | $271.8 billion | Europe | 2025 |
| 17 | Mexico | $256.2 billion | Americas | 2025 |
| 18 | Israel | $229.5 billion | Middle East & Africa | 2025 |
| 19 | United Kingdom | $214.4 billion | Europe | 2025 |
| 20 | Turkiye | $185.6 billion | Middle East & Africa | 2025 |
| 21 | Czechia | $176.3 billion | Europe | 2025 |
| 22 | Indonesia | $156.5 billion | Asia-Pacific | 2025 |
| 23 | Spain | $128.6 billion | Europe | 2025 |
| 24 | Denmark | $127.8 billion | Europe | 2025 |
| 25 | Malaysia | $125.6 billion | Asia-Pacific | 2025 |
| 26 | Canada | $125.6 billion | Americas | 2025 |
| 27 | Netherlands | $118.1 billion | Europe | 2025 |
| 28 | Philippines | $110.9 billion | Asia-Pacific | 2025 |
| 29 | Romania | $90.6 billion | Europe | 2025 |
| 30 | Viet Nam | $85.6 billion | Asia-Pacific | 2025 |
| 31 | Norway | $85.5 billion | Europe | 2025 |
| 32 | South Africa | $76.0 billion | Middle East & Africa | 2025 |
| 33 | Sweden | $74.2 billion | Europe | 2025 |
| 34 | Australia | $72.6 billion | Asia-Pacific | 2025 |
| 35 | Portugal | $68.8 billion | Europe | 2025 |
| 36 | Colombia | $65.8 billion | Americas | 2025 |
| 37 | Hungary | $59.1 billion | Europe | 2025 |
| 38 | Ukraine | $57.3 billion | Europe | 2025 |
| 39 | Belgium | $56.4 billion | Europe | 2025 |
| 40 | Austria | $53.4 billion | Europe | 2025 |
| 41 | Chile | $49.4 billion | Americas | 2025 |
| 42 | Egypt | $48.9 billion | Middle East & Africa | 2025 |
| 43 | Nigeria | $46.0 billion | Middle East & Africa | 2025 |
| 44 | Argentina | $41.0 billion | Americas | 2025 |
| 45 | New Zealand | $28.2 billion | Asia-Pacific | 2025 |
| 46 | Greece | $24.0 billion | Europe | 2025 |
| 47 | Finland | $22.5 billion | Europe | 2025 |
| 48 | Ireland | $13.7 billion | Europe | 2025 |
| 49 | Iceland | $7.7 billion | Europe | 2025 |
Scoreboard (machine-readable data)
Every headline indicator with its value, period, source and confidence. Free to reuse under CC BY 4.0.
| Indicator | Value | Period | Source | Conf. |
|---|---|---|---|---|
| China | 3748744952817.94 US$ | 2025 | World Bank Open Data | High |
| United States | 1385447111476.7 US$ | 2025 | World Bank Open Data | High |
| Japan | 1371402218767.58 US$ | 2025 | World Bank Open Data | High |
| Switzerland | 1075680064272.89 US$ | 2025 | World Bank Open Data | High |
| India | 700073798240.7 US$ | 2025 | World Bank Open Data | High |
| Russia | 608360767884.9 US$ | 2024 | World Bank Open Data | High |
| Germany | 572201958133.16 US$ | 2025 | World Bank Open Data | High |
| Saudi Arabia | 505163993094.99 US$ | 2025 | World Bank Open Data | High |
| South Korea | 436572785443.92 US$ | 2025 | World Bank Open Data | High |
| Italy | 434014519754.79 US$ | 2025 | World Bank Open Data | High |
| Singapore | 432113578989.26 US$ | 2025 | World Bank Open Data | High |
| France | 428208373515.73 US$ | 2025 | World Bank Open Data | High |
| Brazil | 358513128727.46 US$ | 2025 | World Bank Open Data | High |
| United Arab Emirates | 292319262021.32 US$ | 2025 | World Bank Open Data | High |
| Thailand | 282261124353.14 US$ | 2025 | World Bank Open Data | High |
| Poland | 271805173253.09 US$ | 2025 | World Bank Open Data | High |
| Mexico | 256178680249.03 US$ | 2025 | World Bank Open Data | High |
| Israel | 229486904238.89 US$ | 2025 | World Bank Open Data | High |
| United Kingdom | 214355349052.17 US$ | 2025 | World Bank Open Data | High |
| Turkiye | 185567690700.46 US$ | 2025 | World Bank Open Data | High |
| Czechia | 176325883579.12 US$ | 2025 | World Bank Open Data | High |
| Indonesia | 156542507869.67 US$ | 2025 | World Bank Open Data | High |
| Spain | 128593472896.35 US$ | 2025 | World Bank Open Data | High |
| Denmark | 127756364612.3 US$ | 2025 | World Bank Open Data | High |
| Malaysia | 125629250346.16 US$ | 2025 | World Bank Open Data | High |
| Canada | 125626898210.33 US$ | 2025 | World Bank Open Data | High |
| Netherlands | 118056683477.99 US$ | 2025 | World Bank Open Data | High |
| Philippines | 110928780532.07 US$ | 2025 | World Bank Open Data | High |
| Romania | 90648371894.65 US$ | 2025 | World Bank Open Data | High |
| Viet Nam | 85580367980.97 US$ | 2025 | World Bank Open Data | High |
| Norway | 85494772693.9 US$ | 2025 | World Bank Open Data | High |
| South Africa | 76023398333.61 US$ | 2025 | World Bank Open Data | High |
| Sweden | 74195224037.43 US$ | 2025 | World Bank Open Data | High |
| Australia | 72632706749.98 US$ | 2025 | World Bank Open Data | High |
| Portugal | 68839157118.04 US$ | 2025 | World Bank Open Data | High |
| Colombia | 65806277188.96 US$ | 2025 | World Bank Open Data | High |
| Hungary | 59094575606.76 US$ | 2025 | World Bank Open Data | High |
| Ukraine | 57268434039.44 US$ | 2025 | World Bank Open Data | High |
| Belgium | 56392530499.2 US$ | 2025 | World Bank Open Data | High |
| Austria | 53437030354.01 US$ | 2025 | World Bank Open Data | High |
| Chile | 49449773295.63 US$ | 2025 | World Bank Open Data | High |
| Egypt | 48875494539.27 US$ | 2025 | World Bank Open Data | High |
| Nigeria | 46024916767.41 US$ | 2025 | World Bank Open Data | High |
| Argentina | 40998763986.63 US$ | 2025 | World Bank Open Data | High |
| New Zealand | 28152498623.65 US$ | 2025 | World Bank Open Data | High |
| Greece | 24047515202.45 US$ | 2025 | World Bank Open Data | High |
| Finland | 22457097709.87 US$ | 2025 | World Bank Open Data | High |
| Ireland | 13659404386.81 US$ | 2025 | World Bank Open Data | High |
| Iceland | 7732180037.19 US$ | 2025 | World Bank Open Data | High |
Methodology & verification
Economies are ranked by foreign-exchange reserves using the World Bank Open Data API, which harmonises national statistics for cross-country comparison. Each value is the most recent year available for that economy, shown alongside the figure; the trend table uses each economy's reported history. Economies with no reported value are omitted rather than estimated. Region aggregates (EU, euro area, OECD, World) are reference points, not ranked. Absolute reserves favour large economies; adequacy is better judged relative to imports or short-term external debt, which this ranking does not adjust for. Confidence: High (official multilateral source).
Data dictionary
| Field | Type | Description |
|---|---|---|
| metric | string | World Bank indicator code : country ISO3 |
| label | string | Country name |
| value | number | foreign-exchange reserves value |
| unit | string | US$ |
| period | string | Reference year |
| geography | string | Country |
| source_url | string | World Bank indicator page |
Frequently asked questions
Which country has the highest foreign-exchange reserves?
China, at $3.75 trillion (2025). Source: World Bank Open Data.
Where does Sweden rank by foreign-exchange reserves?
Sweden ranks 33rd of 49 at $74.2 billion (2025). Source: World Bank.
What are the top five by foreign-exchange reserves?
China ($3.75 trillion), United States ($1.39 trillion), Japan ($1.37 trillion), Switzerland ($1.08 trillion), India ($700.1 billion). Source: World Bank.
How is foreign-exchange reserves defined?
Total reserves incl. gold (US$), as reported by the World Bank. See the methodology and glossary for details.
How many economies are ranked?
49 of the world's largest economies, plus the EU, OECD and World aggregates as reference points.
What is the caveat with this metric?
Absolute reserves favour large economies; adequacy is better judged relative to imports or short-term external debt, which this ranking does not adjust for.
Where does the data come from?
The World Bank Open Data API, which harmonises national statistics for cross-country comparison. Every figure shows its reference year and links to its World Bank indicator page.
How current is it, and how often does it update?
Each figure is the latest year the World Bank reports for that economy. The index regenerates automatically as new data is released.
Can I download this ranking?
Yes — the full ranking is available as CSV and JSON under a CC BY 4.0 licence, free to reuse with attribution to Affärslivet.
Glossary
- Foreign-Exchange Reserves
- Total reserves incl. gold (US$) — as reported by the World Bank. ↗
- World Bank Open Data
- A free, authoritative database of harmonised economic indicators for every country. ↗
- Purchasing-power parity (PPP)
- A conversion that equalises the price of a comparable basket of goods across countries, so output and incomes can be compared in real terms rather than at market exchange rates. ↗
- Nominal (current US$)
- A value converted at prevailing market exchange rates and not adjusted for differences in price levels. ↗
- GNI per capita
- Gross national income per person — like GDP per capita but including net income earned abroad; useful where cross-border corporate flows are large. ↗
- Reference year
- The year a figure applies to; it can differ across countries because national statistics are published on different schedules. ↗
- Region aggregate
- A World Bank grouping (e.g. European Union, OECD, World) whose value is a weighted regional total or average, shown here for reference rather than ranked. ↗
How to cite this report
APA
Affärslivet Research. (2026). Foreign Exchange Reserves by Country 2026. Affärslivet. Version 1.1. https://xn--affrslivet-s5a.com/en/reports/foreign-reserves-by-country
MLA
Affärslivet Research. "Foreign Exchange Reserves by Country 2026." Affärslivet, 2026-07-01, https://xn--affrslivet-s5a.com/en/reports/foreign-reserves-by-country.
BibTeX
@techreport{affarslivet_foreign_reserves_by_country,
title = {Foreign Exchange Reserves by Country 2026},
author = {{Affärslivet Research}},
year = {2026},
note = {Version 1.1},
url = {https://xn--affrslivet-s5a.com/en/reports/foreign-reserves-by-country}
}