List of the largest trading partners of India
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 1951–1952.[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$70 billion in the year 2017–18.[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 US, when the two main markets of origin are China and the EU[4] 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.
Largest trading partners with India[]
India's largest trade partners with their total trade (sum of imports and exports) in billions of US dollars for the financial year 2019–20 were as follows:
Rank | Country | Exports | Imports | Total Trade | Trade Balance |
---|---|---|---|---|---|
1 | United States | 57.7 | 34.3 | 92.0 | 23.4 |
2 | China | 16.61 | 65.26 | -48.65 | |
3 | United Arab Emirates | 28.81 | 30.22 | 59.03 | -1.41 |
4 | Saudi Arabia | 6.39 | 20.32 | 26.71 | -13.93 |
5 | Switzerland | 1.21 | 16.9 | 18.11 | -15.69 |
6 | Germany | 8.21 | 13.69 | 21.9 | -5.48 |
7 | Hong Kong | 13.7 | 20.34 | 34.04 | -6.64 |
8 | Indonesia | 4.12 | 15.06 | 19.18 | -10.94 |
9 | South Korea | 4.85 | 15.65 | 20.5 | -10.8 |
10 | Malaysia | 3.71 | 9.08 | 16.93 | -5.30 |
11 | Singapore | 7.72 | 9.31 | 16.93 | |
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 | 330.08 | 514.08 | 844.16 | -184.0 |
Countries of which India is the largest trading partner[]
India is the primary export or import partner of several countries. The percentages on these tables are based on 2017 data as shown on the CIA World Factbook.
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Export partners[]
India exports approximately 7500 commodities to about 192 countries.[7] The following table shows India's 10 largest destinations for exports in 2019–2020.[8]
Rank | Country | Value (US$ billion) | Share of overall exports |
---|---|---|---|
1 | United States | 57.7 | 16.94% |
2 | United Arab Emirates | 28.8 | 9.20% |
3 | China | 16.6 | 5.47% |
4 | Hong Kong | 10.9 | 3.53% |
5 | Singapore | 8.9 | 2.90% |
6 | United Kingdom | 8.7 | 2.80% |
7 | Netherlands | 8.3 | 2.69% |
8 | Germany | 8.29 | 2.65% |
9 | Bangladesh | 8.20 | 2.61% |
10 | Nepal | 7.16 | 2.28% |
Import partners[]
India imports around 6000 commodities from 140 countries.[7] The following table shows India's 10 largest sources of imports in 2019–2020.[8]
Rank | Country | Value (US$ billion) | Share of overall imports |
---|---|---|---|
1 | China | 57.8 | 14.37% |
2 | United States | 30.5 | 7.57% |
3 | United Arab Emirates | 25.8 | 6.39% |
4 | Saudi Arabia | 23.0 | 5.70% |
5 | Iraq | 19.8 | 4.91% |
6 | Switzerland | 14.8 | 3.67% |
7 | Hong Kong | 14.6 | 3.63% |
8 | South Korea | 13.2 | 3.28% |
9 | Indonesia | 12.8 | 3.17% |
10 | Singapore | 12.2 | 3.02% |
See also[]
- India related
- Foreign trade of India
- Economy of India
- Foreign-exchange reserves of India
- Remittances to India
- Business process outsourcing to India
- List of exports of India
- Indian diaspora
- Indianisation
- Lists
- List of countries by leading trade partners
- List of the largest trading partners of the United States
- List of the largest trading partners of the European Union
- List of the largest trading partners of China
- List of the largest trading partners of Australia
- List of the largest trading partners of Canada
References[]
- ^ a b "Archived copy". Archived from the original on 2011-09-27. Retrieved 2010-05-11.
{{cite web}}
: CS1 maint: archived copy as title (link) - ^ "Total Trade :: 25 Top countries". commerce.nic.in. Archived from the original on 22 October 2018. Retrieved 20 December 2015.
- ^ "Statistics - Services Export Promotion Council". Department of Commerce. Retrieved 20 December 2015.
- ^ a b https://www.wto.org/english/res_e/booksp_e/trade_profiles17_e.pdf
- ^ "Exports – partners". The World Factbook. Retrieved 2018-10-21.
- ^ "Imports – partners". The World Factbook. Retrieved 2018-10-21.
- ^ a b Macroeconomics and Elementary Statistics. FK Publications. ISBN 9788187140900.
- ^ a b "GOVERNMENT OF INDIA, Ministry of Commerce & Industry, DEPARTMENT OF COMMERCE".
{{cite web}}
: CS1 maint: url-status (link)
- Economy of India lists
- Foreign trade of India
- Economy-related lists of superlatives
- Indian superlatives
- Lists of trading partners