Indian Trade Import Export Data

Despite being a trade deficit country, India has become an important trading partner among the countries mentioned by World Customs Organizations (WCO). In terms of power parity in purchasing, it ranks the third position and is known as the world's largest trade importer. New opportunities for economic development are generated through this trading path. Materials that are imported mostly are petroleum products, electronic products, silver, gold, and precious stones. Exports of India include agricultural products, petroleum products, jewelry, textiles, and gems.

Indian Trade Data shares that it had a total import trade of around 617,945,603.08 in thousands whereas the total export data is 322,291,568.43 in thousands as per the year 2018. The major trading partner for exports are China, United States, Hong Kong, United Arab Emirates, and Singapore and the main importing countries were China, United Arab Emirates, United States, and Iraq.

Trade Data of India showed that its exports were valued at 356.96 billion USD in 2019 while the imports were at 480 billion USD. If compared to the world's growth of 1.50%, India's trade growth is -1.10%. The country's trade deficit was 118.1 billion USD. The government of India uses the trade data to establish the economic policy of the country. According to Indian trade results, the nation ranked 16th of total exports and 11th in imports. The main trading indicators of India include taxes on goods & services (LCU & percentage of value-added in industry and services), international trade in respect to current LCU and revenue percentage, customs, and other import duties, and exports.

Import Trade Data showed that it was slumped in 2019 due to reducing in the purchase of petroleum products, electronic goods, gold, coal, iron & steel, inorganic & organic chemicals. It got slumped to 58.65% to 17.12 billion USD, which increased India's share of all imports. Indian export trade data showed that export to the country in December 2019 was of 1.8% to 27.36 billion USD. India’s exports dropped to 60.28% of 10.36 billion USD in the year 2020.

Using the trade data, trade partners can track the strategies of competitors to make a smart decision for growing business. Considering Indian monthly, quarterly, and yearly trade data enables the businesses to have an accurate projection for sales without increasing stocks. Indian Trade report details will assist businesses in learning about India's new import-export market and the prospects that trading will have.