Import and Export Data India

Export Import Data

11-Jul-2020

Foreign Trade is a vital part of any economy and involves the import and export of goods. Import is the purchase of goods and services from another country. Export is the sale of goods or services to another country. Historically India has had foreign trade relations dating back to 100 BC. India had trade relationships with Greece, the Middle East, China, Germany, Indonesia, Japan, etc. Before 1991 India had a closed economy, with severe restrictions in foreign trade. After liberalization, India allowed foreign investments, the economy improved with an increase in international trade.

 

Import and export data India is collected from the different ports located across the county. The data is collated, from the documents such as the bill of lading and shipping manifest submitted to customs authorities. The database contains the following information product description and HS Code, unit and total quantity, the total cost of the shipment, loading and unloading ports, and the name of the buyer and seller. 

The import and export data shows that foreign trade was 43.38% of India’s GDP in 2018. India imports have always been more than exports (trade deficit). The import and export data India shows that the trade deficit in 2018 was 14.49 billion USD. India’s trade deficit was lowered to 3.15 billion USD in May 2020, with the lowest deficit in 4 years. The trade deficit was 7 billion dollars in May 2019. Monitoring the import and export data allows investors to understand trade patterns and identify opportunities in the domestic markets. The data is an invaluable tool for traders to make their business plans. 

Import data India shows India imported 480 billion USD of goods in 2019. The imports fell by 5.7% when compared to imports in 2018. India’s total imports in April 2020 were 17.1 billion USD. The data collected for over ten years shows India’s average imports per month were 11.3 billion USD. The highest import figures were in April 2019 with imports touching 46.7 billion USD, July 1991 saw the lowest imports with imports falling to 1.3 billion USD.

The top 5 imports in 2019 were:-

  • Mineral fuels including oil (32% of total imports)
  • Gems, precious metals (12.5% of total imports)
  • Electrical machinery, equipment (10.5% of total imports)
  • Machinery including computers (9.2% of total imports)
  • Organic chemicals (4.3% of total imports)

Export data India shows India exported 322.8 billion USD of commodities in 2019. India’s total exports in April 2020 were 10.4 billion USD. The exports dropped by 60.3% YoY in April 2020. The data collected for over ten years shows India’s average imports per month was 7.9 billion USD. The highest export figures were in March 2019 with exports touching 32.7 billion USD, July 1991 saw the lowest exports with exports falling to 1.3 billion USD.

The top exports in 2019 were:-

  • Mineral fuels including oil (13.7% of total exports)
  • Gems, precious metals (11.4% of total exports)
  • Machinery including computers (6.6% of total exports)
  • Organic chemicals (5.7% of total exports)
  • Vehicles (5.3% of total exports)

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