List of the largest trading partners of India

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

According to the Ministry of Commerce and Industry, the fifteen largest trading partners of India represent 59.37% of total trade by India in the financial year 2015-2016.[1] These figures include trade in goods and commodities, but do not include services or foreign direct investment.

The two largest goods traded by India are Mineral fuels (refined / unrefined) and gold (finished gold ware / gold metal). In the year 2013-14, mineral fuels (HS code 27) were the largest traded item with 181.383 billion US$ worth imports and 64.685 billion US$ worth re-exports after refining. In the year 2013-14, gold and its finished items (HS code 71) were the second largest traded items with 58.465 billion US$ worth imports and 41.692 billion US$ worth re-exports after value addition. These two goods are constituting 53% total imports, 34% total exports and nearly 100% of total trade deficit (136 billion US$) of India in the financial year 2013-14.[2] The services trade (exports and imports) are not part of commodities trade. The trade surplus in services trade is US$ 73 billions in the year 2013-14.[3]

Counting the European Union as one, the WTO ranks India fifth for commercial services exports and sixth for commercial services imports[4].

The two main destinations of exported Indian merchandises is the EU market and the USA, when the two main markets of origin are China and the EU[5]

Largest trading partners[edit]

India's largest trade partners with their total trade (sum of imports and exports) in billions of US dollars for the financial year 2017–18 were as follows:[6]

Rank Country Exports Imports Total Trade Trade Balance
1  China 16.34 68.06 84.4 -51.72
2  United States 48.6 25.7 74.3 22.9
3  United Arab Emirates 30.29 19.45 49.74 10.84
4  Saudi Arabia 6.39 20.32 26.72 -13.93
5   Switzerland 0.98 19.30 20.28 -18.32
6  Germany 7.09 12.09 20.33 -5.25
7  Hong Kong 13.7 20.34 34.04 -6.64
8  Indonesia 2.82 13.13 19.05 -10.96
9  South Korea 3.52 13.05 18.13 -8.93
10  Malaysia 3.71 9.08 16.93 -5.30
11  Singapore 7.72 7.31 16.93 2.68
12  Nigeria 2.22 9.95 16.36 -11.00
13  Belgium 5.03 8.26 16.33 -5.29
14  Qatar 0.90 9.02 15.66 -13.55
15  Japan 4.66 9.85 15.52 -4.75
16  Iraq 1.00 10.84 15.08 -13.42
17  Kuwait 1.25 4.97 14.58 -12.18
18  United Kingdom 8.83 5.19 14.34 4.30
19  Iran 2.78 6.28 13.13 -4.78
20  Australia 3.26 8.90 13.03 -7.47
21  Venezuela 0.13 5.70 11.99 -11.47
22  South Africa 3.59 5.95 11.72 -3.40
- Remaining Countries 126.78 104.92 231.70 21.86
India's Total 262.29 381.01 758.30 -137.63

Countries of which India is the largest trading partner[edit]

India is the primary export or import partner of several countries. The percentages on these tables are based on 2016 data as shown on the CIA World Factbook.

Exports[7]
Region Percentage
 Bhutan 95.7%
 Guinea-Bissau 64.6%
   Nepal 56.6%
 Nigeria 34.0%
 Equatorial Guinea 19.4%
 Benin 14.3%
 United Arab Emirates 9.9%
Imports[8]
Region Percentage
 Bhutan 91.1%
   Nepal 70.1%
 Somalia 26.3%
 Sri Lanka 21.7%
 Benin 14.9%

Export partners[edit]

India exports approximately 7500 commodities to about 192 countries.[9] India exported US$ 264 billion worth of commodities in 2015.[10][11] The following table shows India's 11 largest destinations for exports:

Rank Country Value (US$ billion) Share of overall exports
1  United States 40.4 15.3%
2  United Arab Emirates 30.3 11.5%
3  Hong Kong 12.2 4.6%
4  China 9.5 3.6%
5  United Kingdom 8.9 3.4%
6  Singapore 7.8 3%
7  Germany 7 2.7%
8  Saudi Arabia 7 2.7%
9  Sri Lanka 5.5 2.1%
10  Bangladesh 5.5 2.1%
11  Vietnam 5.3 2%

Import partners[edit]

India imports around 6000 commodities from 140 countries.[12] India imported $390.7 billion worth of commodities in 2015, down by 15% from the previous year.[13] [14] The following table shows India's 11 largest sources of imports:

Rank Country Value (US$ billion) Share of overall imports
1  China 61.5 15.8%
2  Saudi Arabia 21.4 5.5%
3   Switzerland 21.1 5.4%
4  United States 20.5 5.2%
5  United Arab Emirates 20.3 5.2%
6  Indonesia 13.9 3.5%
7  South Korea 13.1 3.4%
8  Germany 11.8 3%
9  Iraq 11.3 2.9%
10  Nigeria 10.2 2.6%
11  Qatar 9.7 2.5%

See also[edit]

References[edit]

  1. ^ http://commerce.nic.in/eidb/iecnttopn.asp
  2. ^ "Total Trade :: 25 Top countries". commerce.nic.in. Department of Commerce. Retrieved 20 December 2015. 
  3. ^ "Statistics - Services Export Promotion Council". Department of Commerce. Retrieved 20 December 2015. 
  4. ^ https://www.wto.org/english/res_e/booksp_e/trade_profiles17_e.pdf
  5. ^ https://www.wto.org/english/res_e/booksp_e/trade_profiles17_e.pdf
  6. ^ "Total Trade". commerce.nic.in. Department of Commerce. 2015–16. Retrieved 29 January 2017. 
  7. ^ "Exports – partners". The World Factbook. Retrieved 2017-12-29. 
  8. ^ "Imports – partners". The World Factbook. Retrieved 2017-12-29. 
  9. ^ Macroeconomics and Elementary Statistics. FK Publications. ISBN 9788187140900. 
  10. ^ "Top India Exports". www.worldsrichestcountries.com. Retrieved 2015-12-07. 
  11. ^ "India Import Export Data". www.eximatlasindia.com. Retrieved 2018-03-07. 
  12. ^ Macroeconomics and Elementary Statistics. FK Publications. ISBN 9788187140900. 
  13. ^ "Top India Imports Export Data". www.eximatlasindia.com. Retrieved 2018-03-07. 
  14. ^ "Top India Imports". www.worldsrichestcountries.com. Retrieved 2015-12-07.