webpack: webpack does not include node_modules dependency!!

Do you want to request a feature or report a bug?

bug

What is the current behaviour? When there is no node_modules folder in the current directory when I build my typescript node project and run node dist/index.js it throws all shorts of error for eg: cannot find module 'graphql-import' cannot find module 'express'

If the current behaviour is a bug, please provide the steps to reproduce.

my webpack.prod.js file:

const path = require("path")
const nodeExternals = require("webpack-node-externals")
const Dotenv = require("dotenv-webpack")

module.exports = {
  entry: "./src/server.ts",
  externals: [nodeExternals()],
  mode: "production",
  devtool: "inline-source-map",
  target: "node",
  resolve: {
    extensions: [".ts", ".js"],
    modules: [path.resolve("./node_modules"), path.resolve("./src")]
  },
  node: {
    __dirname: false
  },
  output: {
    filename: "index.js",
    path: path.resolve(__dirname, "dist")
  },
  module: {
    rules: [
      {
        test: /\.ts$/,
        use: "ts-loader",
        exclude: /node_modules/
      }
    ]
  },
  plugins: [
    new Dotenv({
      path: "./.env"
    })
  ]
}

my tsconfig.json file:

{
  "compileOnSave": true,
  "compilerOptions": {
    "baseUrl": "src",
    "outDir": "./dist/",
    "skipLibCheck": true,
    "sourceMap": true,
    "noImplicitAny": true,
    "module": "es6",
    "target": "es5",
    "allowJs": true,
    "moduleResolution": "node",
    "noUnusedLocals": false,
    "allowSyntheticDefaultImports": true,
    "resolveJsonModule": true,
    "esModuleInterop": true,
    "lib": ["es2016", "esnext.asynciterable"]
  },
  "exclude": ["node_modules"]
}

What is the expected behaviour?

expect to run my nodejs server smoothly and printing 🚀 Server is running on port: 4000

If this is a feature request, what is motivation or use case for changing the behaviour? No its not a feature request.

Please mention other relevant information such as the browser version, Node.js version, webpack version, and Operating System.

Node version: 10.13.0 (i tried with 12.x.x too) webpack: 4.39.2 webpack-cli: 3.3.7 typescript: 3.5.3