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India's Trade Overview

INDIA IN WORLD TRADE

TOP EXPORT MARKETS

India’s top 10 export partners over 5 years contributed around 51% of its total exports in 2018. The list of partners and export trends during 2014-2018 are as follows:

India’s total export value (US$ billion)

  2014 2015 2016 2017 2018
World 317.54 264.38 260.33 295.85 323.06
United States of America 42.68 40.31 41.99 46.06 51.6
United Arab Emirates 32.92 29.99 30.04 30.01 29
China 13.43 9.58 8.92 12.49 16.4
Hong Kong, China 13.41 12.15 13.21 15.02 13.21
Singapore 9.68 7.81 7.35 11.57 10.43
United Kingdom 9.67 8.89 8.57 8.96 9.78
Germany 7.75 7.02 7.18 8.24 8.97
Bangladesh 6.26 5.52 5.67 7.21 8.75
Netherlands 6.76 4.88 4.87 5.43 8.65
Nepal 4.19 3.20 4.53 5.52 7.29

Source: ITC Trade Map

India exports to USA has shown an increase over the past five years, the major product contributing to the increase are:

• Pharmaceutical products
• Natural or cultured pearls, precious or semi-precious stones.

The export value has increased from 2014-2018 for all the five products.

India exports to US (export value in US$ billion) and share

Product code Product India’s exports to United States of America  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 42.68 40.31 41.99 46.06 51.60 16
’71 Natural or cultured pearls, precious or semi-precious stones 8.00 8.16 9.93 9.57 10.48 26
’30 Pharmaceutical products 3.84 4.74 5.19 4.58 5.02 35
’84 Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof 2.03 1.95 1.89 2.73 3.71 18
’27 Mineral fuels, mineral oils and products of their distillation 4.52 2.14 1.96 2.24 3.05 6
’87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 1.22 1.44 1.30 1.68 2.85 16

Source: ITC Trade Map

India’s exports to China have also shown an increase from US$ 13.43 billion in 2014 to US$ 16.4 billion in 2018. The major items contributing to the export basket to China are ores, slag and ash.

India exports to China (export value in US$ billion) and share

Product code Product India’s exports to China  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 13.43 9.58 8.92 12.49 16.40 5
’27 Mineral fuels, mineral oils and products of their distillation 1.61 0.60 0.70 1.02 3.09 6
’29 Organic chemicals 0.96 0.87 0.79 1.70 3.05 17
52 Cotton 2.81 1.99 1.26 1.15 1.46 18
’26 Ores, slag and ash 0.78 0.44 1.17 1.51 1.13 68
’39 Plastics and articles thereof 0.41 0.32 0.27 0.43 1.05 13

Source: ITC Trade Map

India’s export to UAE has shown a decline from 2014 to 2018 due to decline in exports of:

• Natural or cultured pearls
• Mineral fuels and oils
• Articles of apparel and clothing

There has been small increase in exports of:

• Electrical machinery and equipment
• Ship, boats and floating structures.

India exports to UAE (export value in US$ billion) and share:

Product code Product India’s exports to United Arab of Emirates  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 32.92 29.99 30.04 30.01 29.00 9
’71 Natural or cultured pearls, precious or semi-precious stones, precious metals 11.72 12.30 13.29 12.04 9.80 24
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances 7.21 4.09 3.70 4.57 6.68 14
’85 Electrical machinery and equipment and parts 0.74 0.67 0.76 0.61 1.34 11
’89 Ships, boats and floating structures 0.98 0.79 1.18 1.39 1.32 37
’61 Articles of apparel and clothing accessories, knitted or crocheted 0.98 1.64 1.86 1.96 1.09 14

Source: ITC Trade Map

India’s export to Hong Kong decreased from US$ 13.41 billion in 2014 to US$ 12.15 billion in 2015 then increased in 2016 and 2017 and then fell to US$ 13.21 billion in 2018.

The main product contributing to this decline is the Natural or cultured pearls and raw hides and skin and leather.

Since natural or cultured pearls contributes 28% in the export basket, it has impacted overall exports from India to Hong Kong.

India exports to Hong Kong (export value in US$ billion) and share

Product code Product India’s exports to Hong Kong  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 13.41 12.15 13.21 15.02 13.21 4
’71 Natural or cultured pearls, precious or semi-precious stones, precious metal 11.96 10.92 12.05 13.65 11.33 28
’27 Mineral fuels, mineral oils and products of their distillation 0.01 0.03 0.11 0.15 0.61 1
’85 Electrical machinery and equipment and parts 0.21 0.18 0.19 0.22 0.26 2
’41 Raw hides and skins (other than furskins) and leather 0.42 0.31 0.24 0.22 0.17 21
’84 Machinery, mechanical appliances, nuclear reactors, boilers 0.07 0.07 0.03 0.06 0.14 1

Source: ITC Trade Map

The export to Singapore has shown as decline in exports from US$ 11.57 billion in 2017 to US$ 10.43 billion in 2018 contributed by decline in exports of ships, boats and floating structures, which have the largest share in the export basket followed by mineral fuels and oils.India exports to Singapore (export value in US$ billion) and share

Product code Product India’s exports to Singapore  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
TOTAL All products 9.68 7.81 7.35 11.57 10.43 3
’27 Mineral fuels, mineral oils and products of their distillation 5.01 2.97 3.48 6.84 6.33 13
’84 Machinery, mechanical appliances, nuclear reactors, boilers 0.44 0.37 0.39 0.49 0.70 3
’71 Natural or cultured pearls, precious or semi-precious stones, precious metals 0.50 0.35 0.50 0.56 0.69 2
’89 Ships, boats and floating structures 1.05 0.85 0.72 1.36 0.63 17
’29 Organic chemicals 0.26 0.29 0.32 0.36 0.34 2

Source: ITC Trade Map

India’s exports to United Kingdom were recorded at US$ 9.78 billion in 2018.

The main products in the export basket are machinery and mechanical appliances, apparels and footwear and both have shown a decline in the export value.

There is an increase of exports of machinery and mechanical appliances, pharmaceutical products and natural or cultured pearls.

India exports to United Kingdom (export value in US$ billion) and share

Product code Product India’s exports to United Kingdom  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 9.67 8.89 8.57 8.96 9.78 3
’84 Machinery, mechanical appliances, nuclear reactors, boilers 0.70 0.68 0.65 0.92 1.06 5
’62 Articles of apparel and clothing accessories, not knitted or crocheted 0.94 0.91 0.85 0.84 0.84 10
’61 Articles of apparel and clothing accessories, knitted or crocheted 0.90 0.90 0.83 0.84 0.78 10
’71 Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad 0.48 0.52 0.49 0.46 0.72 2
’30 Pharmaceutical products 0.44 0.46 0.46 0.42 0.55 4
’27 Mineral fuels, mineral oils and products of their distillation 0.24 0.01 0.01 0.12 0.50 1
’87 Vehicles other than railway or tramway rolling stock, and parts and accessories 0.63 0.49 0.63 0.47 0.45 2
’64 Footwear, gaiters and the like; parts of such articles 0.50 0.48 0.42 0.40 0.40 14

Source: ITC Trade Map

India’s exports to Bangladesh have shown an increase from US$ 6.26 billion in 2014 to US$ 8.75 billion in 2018.

Major product exported is cotton, which has shown an increase in exports along with all other products except cereals, which has shown a decline.

India exports to Bangladesh (export value in US$ billion) and share

Product code Product India’s exports to Bangladesh  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 6.26 5.52 5.67 7.21 8.75 3
’52 Cotton 1.65 1.59 1.45 1.74 2.04 25
’87 Vehicles other than railway or tramway rolling stock, and parts and accessories 0.59 0.54 0.66 0.95 1.15 6
’27 Mineral fuels, mineral oils and products of their distillation 0.18 0.15 0.15 0.38 0.86 2
’84 Machinery, mechanical appliances, nuclear reactors, boilers 0.33 0.36 0.45 0.53 0.64 3
’10 Cereals 0.80 0.33 0.04 0.40 0.42 5

Source: ITC Trade Map

India’s exports to Germany have increased from US$ 7.75 billion in 2014 to US$ 8.97 billion in 2018.There has been an increase in export value of machinery and electrical equipment and organic chemicals, while exports of Apparel and clothing accessories have declined.

India exports to Germany (export value in US$ billion) and share

Product code Product India’s exports to Germany  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 7.75 7.02 7.18 8.24 8.97 3
’84 Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof 0.61 0.63 0.65 1.17 1.54 8
’29 Organic chemicals 0.60 0.56 0.54 0.55 0.70 4
’61 Articles of apparel and clothing accessories, knitted or crocheted 0.68 0.60 0.61 0.65 0.67 9
’85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television 0.45 0.40 0.40 0.47 0.59 5
’62 Articles of apparel and clothing accessories, not knitted or crocheted 0.60 0.52 0.52 0.52 0.48 6

Source: ITC Trade Map

India exports to Netherlands have increased from US$ 6.76 billion in 2014 to US$ 8.65 billion in 2018.The products listed below have shown an increase in export value especially mineral fuels and oils. Electrical machinery and equipment has shown a decline in exports from 2014 to 2018

India exports to Netherlands (export value in US$ billion) and share

Product code Product India’s exports to Netherlands  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 6.76 4.88 4.87 5.43 8.65 3
’27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral 2.82 1.29 1.31 1.47 4.27 9
’29 Organic chemicals 0.37 0.40 0.36 0.42 0.52 3
’61 Articles of apparel and clothing accessories, knitted or crocheted 0.21 0.18 0.18 0.22 0.26 3
’85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television 0.34 0.21 0.22 0.23 0.25 2
’84 Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof 0.14 0.17 0.14 0.19 0.23 1

Source: ITC Trade Map

India’s exports to Nepal have witnessed a strong increased from US$ 4.19 billion in 2014 to US$ 7.29 billion in 2018.

Iron and steel is the heaviest product in the export basket to Nepal.

All 5 major products have shown an increase in export value over the years.

India exports to Nepal (export value in US$ billion) and share

Product code Product India’s exports to Nepal  
2014 2015 2016 2017 2018 Share in India’s exports, % (2018)
‘TOTAL All products 4.19 3.20 4.53 5.52 7.29 2
’27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral 1.24 0.75 0.76 1.19 1.74 4
’72 Iron and steel 0.50 0.32 0.51 0.76 1.18 12
’87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.38 0.36 0.74 0.65 0.72 4
’84 Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof 0.22 0.20 0.37 0.51 0.65 3
’10 Cereals 0.26 0.25 0.29 0.33 0.39 5

Source: ITC Trade Map

Some important takeaways on India’s exports are as follows:

• USA, UAE, China, Hong Kong and Singapore are the major export destinations.
• UAE and Singapore is the main countries for export of Mineral fuels and oils
• Natural or cultured pearls the major destinations are Hong Kong, USA and UAE
• India’s major exports of Machinery and mechanical appliance and Vehicles, Electrical machinery and equipment, Apparels and Pharmaceutical products are destined to USA
• China is the country which has largest share in India’s export of organic chemicals followed by USA.
• Cotton majorly exported to Bangladesh while Iron and Steel to Nepal

India top 10 products exported (export value in US$ billion) and shares

Code Product label 2014 2015 2016 2017 2018 India’s share in world exports (2018) Major Exporting Countries Share of exporting Countries (2018)
‘TOTAL All products 318 264.4 260 295.9 323 1.7 USA, UAE, China, Hong Kong Singapore 16, 9, 5.1, 4.1, 3.2
’27 Mineral fuels, mineral oils and products of their distillation 62.4 31.39 27.7 35.9 48.3 2 UAE, Singapore, Netherlands 13.8, 13.1, 8.8
’71 Natural or cultured pearls, precious or semi-precious stones, precious metals 40.7 38.49 42.3 42.57 40.1 6.4 Hong Kong, USA, UAE 28.3, 26.1, 24.4
’84 Machinery, mechanical appliances, nuclear reactors, boilers 13.6 13.23 13.6 16.65 20.4 0.9 USA, Germany, UK 18.2, 7.6, 5.2
’87 Vehicles other than railway or tramway rolling stock, and parts and accessories 14.5 14.08 15 16.23 18.2 1.2 USA, Mexico, Bangladesh 15.6, 9.4, 6.3
’29 Organic chemicals 12 11.3 11.3 13.57 17.7 4 China, USA 17.2, 10.1
’30 Pharmaceutical products 11.66 12.54 13.04 12.90 14.28 2.4 USA, UK, South Africa 35.2, 3.8, 3.8
’85 Electrical machinery and equipment 9.00 7.94 8.22 8.80 11.79 0.4 USA,UAE, Germany 14.1, 11, 4.5
’72 Iron and steel 9.08 6.31 6.44 11.70 9.98 2.4 Nepal. Italy, UAE 11, 8.1, 6.8
’52 Cotton 8.88 7.47 6.26 6.90 8.13 13.8 Bangladesh, China Pakistan 25, 18, 9.4
’62 Articles of apparel and clothing accessories, not knitted or crocheted 9.06 9.35 9.05 8.98 8.13 3.4 USA,UK, UAE 26.6, 10.3, 9.9

Source: ITC Trade Map

India’s export value of top 5 products in US$ billion

Source: Data used from ITC Trade Map

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