EXPORT
- India shipped US$261 billion worth of products around the globe in 2016.
- That figure represents roughly 1.6% of overall global exports estimated at $16.236 trillion one year earlier in 2015.
- From a continental perspective, 49.1% of India’s total exports by value in 2016 were delivered to other Asian trade partners.
- European importers purchased 19.5% of Indian shipments while 18.1% worth arrived in North America.
- At 8.7%, importers in Africa represent a smaller portion of Indian exports.
Top 10 countries of Export of Indian products, by dollar value during 2016.
- United States: US$42 billion (16.1% of total Indian exports)
- United Arab Emirates: $30.7 billion (11.8%)
- Hong Kong: $13.2 billion (5.1%)
- China: $8.9 billion (3.4%)
- United Kingdom: $8.6 billion (3.3%)
- Singapore: $7.4 billion (2.8%)
- Germany: $7.2 billion (2.7%)
- Vietnam: $6 billion (2.3%)
- Bangladesh: $5.7 billion (2.2%)
- Belgium: $5.4 billion (2.1%)
IMPORT
- India imported US$356.7 billion worth of goods from around the globe in 2016, down by -8.7% from 2015.
- India’s top 10 imports accounted for almost three-quarters (74.3%) of the overall value of its product purchases from other countries.
- Indian imports represent 2.2% of total global imports which totaled $16.473 trillion one year earlier in 2015.
- From a continental perspective, 58.2% of India’s total imports by value in 2016 were purchased from other Asian countries.
- European trade partners supplied 17.5% of import sales to India .
- 7.4% worth originated from North America with 7.3% coming from suppliers in Africa.
Top 10 countries of import by India, by dollar value during 2016.
- China 16.46%
- United States 5.7%
- United Arab Emirates 5.5%
- Saudi Arabia 5.2%
- Switzerland 4.2%
- Indonesia 3.5%
- South Korea 3.4%
- Germany 3%
- Iraq 3%
- Australia 2.7%
India’s Top 10 Trade Partner Countries ( Export + Import)
- China
- USA
- UAE
- Saudi Arabia
- Hong Kong
- Germany
- Switzerland
- Indonesia
- South Korea
- Singapore
TRADE DEFICIT
A country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
- India incurred a -$95.7 billion trade deficit for all products during 2016 up 6.7% from its -$89.6 billion deficit in 2009.
In 2016, India incurred the highest trade deficits with:
- China: -US$51.6 billion
- Switzerland: -$13.8 billion
- Saudi Arabia: -$13.4 billion
- Indonesia: -$9.1 billion
- Iraq: -$9 billion
- South Korea: -$8.7 billion
- Qatar: -$6.7 billion
- Japan: -$6 billion
- Iran: -$5.8 billion
- Australia: -$5.8 billion
TRADE SURPLUS
Though India has overall trade deficit, but with some countries India do have trade surplus.
A country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2016, India incurred the highest trade surpluses with :
- United States: US$21.6 billion
- United Arab Emirates: $11.4 billion
- Hong Kong: $6.1 billion
- Bangladesh: $5 billion
- United Kingdom: $4.7 billion
- Nepal: $4.1 billion
- Sri Lanka: $3.5 billion
- Turkey: $3.3 billion
- Netherlands: $3.1 billion
- Vietnam: $2.8 billion
Main Import Items
The following product groups represent the highest dollar value in India’s import purchases during 2016. India’s number one import is crude oil, gold, diamonds and mobile phones.
- Mineral fuels including oil: US$89.3 billion (25% of total imports)
- Gems, precious metals: $48.1 billion (13.5%)
- Electrical machinery, equipment: $37 billion (10.4%)
- Machinery including computers: $32.5 billion (9.1%)
- Organic chemicals: $14.8 billion (4.1%)
- Plastics, plastic articles: $11.4 billion (3.2%)
- Animal/vegetable fats, oils, waxes: $10.5 billion (2.9%)
- Iron, steel: $8.7 billion (2.4%)
- Optical, technical, medical apparatus: $7.2 billion (2%)
- Ships, boats: $5.5 billion (1.5%)
