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Largest foreign reserves, 1990 to 2025

China holds the world's largest reserves at about $3.75 trillion in 2025, almost three times the United States at $1.39 trillion.

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What the data shows

  • In 2025, China ranks #1 with $3.75T, ahead of United States ($1.39T) and Japan ($1.37T).
  • Back in 1990, United States was #1 with $0.17T.
  • The top spot changed hands twice: Japan in 1995 and China in 2006.
  • Biggest climber: China, from #9 in 1990 to #1 in 2025.

About this chart

China's reserves of about $3.75 trillion in 2025 are far larger than any other country's: the United States holds $1.39 trillion, Japan $1.37 trillion and Switzerland $1.08 trillion. India follows at $0.70 trillion, then Germany ($0.57 trillion), Saudi Arabia ($0.51 trillion) and South Korea ($0.44 trillion). In 1990, the first year of the series, the United States led at $0.17 trillion, ahead of Germany at $0.10 trillion.

The measure is total reserves including gold, in current US dollars, from the World Bank. It covers assets a central bank holds to back its currency and pay for imports or debts abroad. Gold is valued at market prices, so a rising gold price lifts the total even when no new gold is bought. Values are not adjusted for inflation, which makes 1990 figures look small next to 2025.

The data

Source: World Bank, World Development Indicators (FI.RES.TOTL.CD), total reserves including gold, current US$ trillions. Retrieved November 4, 2026.

Largest foreign reserves, Total reserves incl. gold, US$ trillions, 1990–2025
Date🇨🇳 China🇺🇸 United States🇯🇵 Japan🇨🇭 Switzerland🇮🇳 India🇩🇪 Germany🇸🇦 Saudi Arabia🇰🇷 South Korea🇮🇹 Italy🇸🇬 Singapore🇫🇷 France🇧🇷 Brazil🇬🇧 United Kingdom🇪🇸 Spain🇳🇱 Netherlands🇭🇰 Hong Kong🇷🇺 Russia
1990$0.03T$0.17T$0.09T$0.06T$0.01T$0.10T$0.01T$0.01T$0.09T$0.03T$0.07T$0.01T$0.04T$0.06T$0.03T$0.02T
1991$0.05T$0.16T$0.08T$0.06T$0.01T$0.10T$0.01T$0.01T$0.07T$0.03T$0.06T$0.01T$0.05T$0.07T$0.03T$0.03T
1992$0.02T$0.15T$0.08T$0.06T$0.01T$0.12T$0.01T$0.02T$0.05T$0.04T$0.05T$0.02T$0.04T$0.05T$0.04T$0.04T
1993$0.03T$0.16T$0.11T$0.07T$0.01T$0.11T$0.01T$0.02T$0.05T$0.05T$0.05T$0.03T$0.04T$0.05T$0.05T$0.04T$0.01T
1994$0.06T$0.16T$0.14T$0.07T$0.02T$0.11T$0.01T$0.03T$0.06T$0.06T$0.06T$0.04T$0.05T$0.05T$0.05T$0.05T$0.01T
1995$0.08T$0.18T$0.19T$0.07T$0.02T$0.12T$0.01T$0.03T$0.06T$0.07T$0.06T$0.05T$0.05T$0.04T$0.05T$0.06T$0.02T
1996$0.11T$0.16T$0.23T$0.07T$0.02T$0.12T$0.02T$0.03T$0.07T$0.08T$0.06T$0.06T$0.05T$0.06T$0.04T$0.06T$0.02T
1997$0.15T$0.13T$0.23T$0.06T$0.03T$0.11T$0.02T$0.02T$0.08T$0.07T$0.05T$0.05T$0.04T$0.07T$0.03T$0.09T$0.02T
1998$0.15T$0.15T$0.22T$0.07T$0.03T$0.11T$0.02T$0.05T$0.05T$0.08T$0.07T$0.04T$0.04T$0.06T$0.03T$0.09T$0.01T
1999$0.16T$0.14T$0.29T$0.06T$0.04T$0.09T$0.02T$0.07T$0.05T$0.08T$0.07T$0.04T$0.05T$0.04T$0.02T$0.10T$0.01T
2000$0.17T$0.13T$0.36T$0.05T$0.04T$0.09T$0.02T$0.10T$0.05T$0.08T$0.06T$0.03T$0.05T$0.04T$0.02T$0.11T$0.03T
2001$0.22T$0.13T$0.40T$0.05T$0.05T$0.08T$0.02T$0.10T$0.05T$0.08T$0.06T$0.04T$0.05T$0.03T$0.02T$0.11T$0.04T
2002$0.30T$0.16T$0.47T$0.06T$0.07T$0.09T$0.02T$0.12T$0.06T$0.08T$0.06T$0.04T$0.05T$0.04T$0.02T$0.11T$0.05T
2003$0.42T$0.18T$0.67T$0.07T$0.10T$0.10T$0.02T$0.16T$0.06T$0.10T$0.07T$0.05T$0.06T$0.03T$0.02T$0.12T$0.08T
2004$0.62T$0.19T$0.84T$0.07T$0.13T$0.10T$0.03T$0.20T$0.06T$0.11T$0.08T$0.05T$0.06T$0.02T$0.02T$0.12T$0.13T
2005$0.83T$0.19T$0.85T$0.06T$0.14T$0.10T$0.16T$0.21T$0.07T$0.12T$0.07T$0.05T$0.06T$0.02T$0.02T$0.12T$0.18T
2006$1.08T$0.22T$0.90T$0.06T$0.18T$0.11T$0.23T$0.24T$0.08T$0.14T$0.10T$0.09T$0.06T$0.02T$0.02T$0.13T$0.30T
2007$1.55T$0.28T$0.97T$0.08T$0.28T$0.14T$0.31T$0.26T$0.09T$0.17T$0.12T$0.18T$0.08T$0.02T$0.03T$0.15T$0.48T
2008$1.97T$0.29T$1.03T$0.07T$0.26T$0.14T$0.45T$0.20T$0.11T$0.18T$0.10T$0.19T$0.06T$0.02T$0.03T$0.18T$0.43T
2009$2.45T$0.40T$1.05T$0.13T$0.28T$0.18T$0.42T$0.27T$0.13T$0.19T$0.13T$0.24T$0.08T$0.03T$0.04T$0.26T$0.44T
2010$2.91T$0.49T$1.10T$0.27T$0.30T$0.22T$0.46T$0.29T$0.16T$0.23T$0.17T$0.29T$0.10T$0.03T$0.05T$0.28T$0.48T
2011$3.25T$0.54T$1.30T$0.33T$0.30T$0.23T$0.56T$0.31T$0.17T$0.24T$0.17T$0.35T$0.11T$0.05T$0.05T$0.29T$0.50T
2012$3.39T$0.57T$1.27T$0.53T$0.30T$0.25T$0.67T$0.33T$0.18T$0.27T$0.18T$0.37T$0.12T$0.05T$0.05T$0.32T$0.54T
2013$3.88T$0.45T$1.27T$0.54T$0.30T$0.20T$0.74T$0.35T$0.15T$0.28T$0.15T$0.36T$0.12T$0.05T$0.05T$0.31T$0.51T
2014$3.90T$0.43T$1.26T$0.55T$0.33T$0.19T$0.74T$0.36T$0.14T$0.26T$0.14T$0.36T$0.12T$0.05T$0.04T$0.33T$0.39T
2015$3.41T$0.38T$1.23T$0.60T$0.35T$0.17T$0.63T$0.37T$0.13T$0.25T$0.14T$0.36T$0.15T$0.05T$0.04T$0.36T$0.37T
2016$3.10T$0.41T$1.22T$0.68T$0.36T$0.18T$0.55T$0.37T$0.14T$0.25T$0.15T$0.36T$0.13T$0.06T$0.04T$0.39T$0.38T
2017$3.24T$0.45T$1.26T$0.81T$0.41T$0.20T$0.51T$0.39T$0.15T$0.29T$0.16T$0.37T$0.15T$0.07T$0.04T$0.43T$0.43T
2018$3.17T$0.45T$1.27T$0.79T$0.40T$0.20T$0.51T$0.40T$0.15T$0.29T$0.17T$0.37T$0.17T$0.07T$0.04T$0.42T$0.47T
2019$3.22T$0.52T$1.32T$0.85T$0.46T$0.22T$0.51T$0.41T$0.18T$0.29T$0.19T$0.36T$0.17T$0.07T$0.04T$0.44T$0.56T
2020$3.36T$0.63T$1.39T$1.08T$0.59T$0.27T$0.47T$0.44T$0.21T$0.37T$0.22T$0.36T$0.18T$0.08T$0.05T$0.49T$0.60T
2021$3.43T$0.72T$1.41T$1.11T$0.64T$0.30T$0.47T$0.46T$0.23T$0.43T$0.24T$0.36T$0.19T$0.09T$0.06T$0.50T$0.63T
2022$3.31T$0.71T$1.23T$0.92T$0.57T$0.29T$0.48T$0.42T$0.22T$0.30T$0.24T$0.32T$0.18T$0.09T$0.06T$0.42T$0.58T
2023$3.45T$0.77T$1.29T$0.86T$0.63T$0.32T$0.46T$0.42T$0.25T$0.36T$0.24T$0.36T$0.18T$0.10T$0.07T$0.43T$0.60T
2024$3.46T$0.91T$1.23T$0.91T$0.64T$0.38T$0.46T$0.42T$0.29T$0.38T$0.28T$0.33T$0.17T$0.11T$0.08T$0.61T
2025$3.75T$1.39T$1.37T$1.08T$0.70T$0.57T$0.51T$0.44T$0.43T$0.43T$0.43T$0.36T$0.21T$0.13T$0.12T

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Frequently asked questions

Which country has the largest foreign exchange reserves?

China has the largest reserves, at about $3.75 trillion including gold in 2025. The United States is second at $1.39 trillion and Japan third at $1.37 trillion.

What counts as total reserves including gold?

It is the World Bank measure of reserve assets held by a country's monetary authority, with gold included and valued at market prices. The figures are in current US dollars and are not adjusted for inflation.

Who had the largest reserves in 1990?

The United States had the largest reserves in 1990, at about $0.17 trillion. Germany was second at $0.10 trillion, then Italy and Japan at $0.09 trillion each.

Where does this data come from?

World Bank, World Development Indicators (FI.RES.TOTL.CD), total reserves including gold, current US$ trillions. Retrieved November 4, 2026. You can download the full table as a CSV from this page.

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