Export Import Data
Import and export are a major part of any economy. Exports and imports not only benefit the Indian economy but are the core of many business operations. India has a large population and needs to import resources to meet local demand. India exports many commodities to other countries to earn valuable foreign exchange. There are numerous benefits of imports. It helps consumers get the latest technology at the most affordable rates. It encourages innovation in the local industry. Exports have helped to expand India’s markets. India has emerged as a leading exporter of services worldwide.
India’s import export data showed that India’s exports were valued at 356.96 billion USD, in April-November 2019 while imports were valued at 480 billion USD. India’s trade deficit was 118.1 billion USD. The trade deficit reduced due to lower gold imports and lower petroleum prices. The government of India is trying to reduce the trade deficit by encouraging people to buy goods manufactured in India. The Indian government has set an export target of 900 billion dollars by 2020.
Importers and Exporters rely on import-export data to formulate their business strategy.
India Imports Data
India imports data shows that India imported 480 billion USD in 2019. Imports to India slumped due to lower purchase of gold, petroleum products, coal, coke & briquettes, electronic goods, iron & steel, and organic & inorganic chemicals. Indian imports slumped to 58.65% to a low of 17.12 billion USD, April. This was due to the lower purchase of gold, petroleum products, coal, coke and briquettes, electronic goods, iron steel, & organic and inorganic chemicals. Trends show India’s share of overall imports from Asia increased, especially China, Hong Kong, and ASEAN economies.
Top Indian imports are:-
Top Indian import partners are:-
India export data
India export data shows that India exported 332.8 billion USD. Export to India 1.8% in December to 27.36 billion USD. Export from India fell to 60.28% in 10.36 billion USD in April 2020 at the lowest levels since November 2009. This was due to lower sales in gems & jewelry, engineering goods, electronic goods, petroleum products, and organic & inorganic chemicals. The data showed exports to North American and European countries increased. India’s major exports continued to be Asian Countries. Trends indicate Asia’s share in Indian overall exports has fallen in the last five years.
India’s top exports are:-
Top Indian Export partners are:-
Indian Custom Data
Indian customs data is collected from custom ports (land ports, seaports, airports) around the country. The data is collected from the information contained in the bill of lading or shipping manifest submitted to customs authorities. The data submitted to the port authorities contains the following information:-
India Trade Data
India trade data showed it was the number 16th in total exports and 11th in total imports. The data showed the US has surpassed China to become India's top trading partner. The bilateral trade between the US and India was 87.57 billion dollars. The total trade between China and India was 68 billion dollars. Trade experts think this trend will continue as the US and India have further economic ties. India has a trade surplus with America. The trade deficit with China is huge. The other top trading partners of India are the UAE, Saudi Arabia, and Hong Kong.
The Indian government uses India’s trade data to formulate the country's economic policy.
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