Arizona State University's Thunderbird School of Global Management retains first place in the MBA and Master's ranking in the QS International Trade Rankings 2027, while the University of Cambridge continues to lead the Executive MBA (EMBA) ranking. Thunderbird is followed by Durham University and the University of Sydney, while Cambridge tops the EMBA ranking ahead of London Business School and INSEAD.
Produced by QS in partnership with the Hinrich Foundation, the QS International Trade Rankings assess programmes across six performance areas, including trade programme content, industry engagement and graduate outcomes.
The 2027 edition ranks programmes from 129 institutions across 41 locations, with 23 programmes appearing in the rankings for the first time. The results highlight changes among the world's leading international trade programmes, alongside growing representation from new countries.
QS International Trade Rankings 2027: MBA and Master's results
Arizona State University's Thunderbird School of Global Management retains first place in the MBA and Master's ranking for its Master of Global Management programme, achieving an overall score of 100/100.
Durham University's MSc International Business rises one place to second, while the University of Sydney's Master of International Business climbs four positions to third.
Spain's Universitat Pompeu Fabra moves up six places to fourth, while Germany's WHU Otto Beisheim School of Management rises 10 places to fifth.
Top 10 MBA and Master's programmes for international trade in 2027
The UK has three programmes in the top 10, with Durham University, the University of Leeds and the University of Exeter all improving their positions.
The University of Amsterdam is the highest-ranked new entrant, debuting in joint ninth place.
QS International Trade Rankings 2027: Executive MBA (EMBA) results
The University of Cambridge retains first place in the separate Executive MBA ranking, achieving an overall score of 100 for its Global Executive MBA programme.
London Business School remains second, while INSEAD rises one position to third, overtaking Columbia University.
Top 10 Executive MBA programmes for international trade in 2027
The US has four programmes in the EMBA top 10, followed by the UK with three and France with two.
The University of Miami records the biggest improvement among the top 10, rising six places from 14th to eighth. Cornell University and SKEMA Business School each climb one position.
Which programmes have risen in the QS International Trade Rankings 2027?
Several programmes have made notable gains across the two rankings.
In the MBA and Master's ranking, HEC Montréal's MSc International Business climbs 18 places from joint 38th to 20th. The University of Melbourne rises 17 places to 23rd, while the University of Birmingham also gains 17 positions to rank 33rd.
The University of Warwick's MSc International Trade, Strategy and Operations rises 14 places to 17th, and London Business School's Global Masters in Management climbs nine places to 19th.
In the Executive MBA ranking, Queen's University at Kingston rises eight places to 17th, while the University of Melbourne moves up five places to 13th.
Across both rankings, 34% of programmes improved their positions compared with 2026, while 42% moved down.
Which countries are represented for the first time in the QS International Trade Rankings 2027?
The 2027 edition welcomes 23 new programmes, including entrants from eight locations represented for the first time: Mexico, Japan, Croatia, Morocco, Colombia, Iceland, Finland and Saudi Arabia.
Mexico has the highest number of new entrants, with three programmes joining across the two rankings.
In the MBA and Master's ranking, the University of Amsterdam is the highest-ranked new entrant, debuting at joint ninth, followed by George Washington University at 36th and Swiss International University at 39th.
In the Executive MBA ranking, Mexico's Instituto Tecnológico Autónomo de México (ITAM) is the highest-ranked new entrant at 16th, followed by Yonsei University in South Korea at 19th.
Which countries perform best in the QS International Trade Rankings 2027?
Europe is the most represented region in the QS International Trade Rankings 2027, accounting for 74 of the ranked programmes across both categories. The Asia Pacific follows with 37 programmes, while North America has 26.
The UK has the highest number of ranked programmes overall, with 24, followed by the US with 22. The UK also leads the MBA and Master's ranking by number of programmes, while the US has the strongest representation in EMBA.
United Kingdom
The UK has three programmes in the MBA and Master's top 10 and three in the EMBA top 10.
Durham University is the UK's highest-ranked institution in MBA and Master's, placing second globally. The University of Leeds and University of Exeter also enter the top 10, following improvements of 11 and 12 places respectively.
In EMBA, the University of Cambridge and London Business School retain the top two positions, while the University of Manchester ranks tenth.
United States and Canada
Arizona State University's Thunderbird School of Global Management retains first place in the MBA and Master's ranking in the QS International Trade Rankings 2027, while the University of Cambridge continues to lead the Executive MBA (EMBA) ranking. Thunderbird is followed by Durham University and the University of Sydney, while Cambridge tops the EMBA ranking ahead of London Business School and INSEAD.
In Canada, HEC Montréal rises to 20th in MBA and Master's, while Queen's University at Kingston climbs to 17th in EMBA.
Europe
European institutions feature prominently in the MBA and Master's top 10, including Spain's Universitat Pompeu Fabra in fourth, Germany's WHU Otto Beisheim School of Management in fifth and France's INSEAD in sixth.
INSEAD also performs strongly in EMBA, rising to third globally, while SKEMA Business School ranks ninth.
The Asia Pacific
The University of Sydney leads the Asia Pacific in the MBA and Master's ranking, rising four places to third.
The National University of Singapore ranks joint ninth in MBA and Master's and seventh in EMBA, appearing in the top 10 of both rankings.
The University of Melbourne also improves in both categories, climbing to 23rd in MBA and Master's and 13th in EMBA.
Explore the QS International Trade Rankings 2027
The 2027 results highlight the continued performance of leading programmes alongside significant improvements and new entrants in both the MBA and Master's and Executive MBA rankings.
Explore the full results to compare international trade programmes, examine their performance across the six assessment areas and discover the latest rankings.

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