The folding container is formed from a single seamless sheet of liquid impervious material to form a container for liquids or bulk goods as desired. The sheet forming the container is folded along fixed fold lines, i.e., folds that remain permanently in place to define the various panels of the container, and hinge folds, i.e., folds along which the side and bottom panels may be spread to open the container for use or closed to fold the container for compact storage. The side and bottom panels fold inwardly between the front and rear panels of the container for storage, thus providing an even more compact configuration. The front, rear, and both side panels are configured as trapezoids, with their bases wider than their upper edges. This provides greater stability for the container when filled, due to the lower center of gravity of the mass contained therein and the wider base.