INDIA EXPORT IMPORT & ECONOMIC ANALYSIS

India is the second 17th largest economy in the world for its export import capacity. India is the second most populous country in the world so its very big and important market for an international trade

Indian Economy and Foreign Trade Data

India is the 17th largest economy in the world. According to 2018 International trade data, India exported 323 billion USD. Compared to 2017 data, we see that exports increased by 9%. When the import data are analyzed, we see that the total imports of India in 2018 is 507.58 billion USD. Compared to 2017 data, the increase in imports was 14%

Against these results, India's current account deficit increased by approximately 185 billion USD in 2018. The GDP per capita in India was 7.06 thousand USD. This figure is expected to fall below USD 7bn in 2018 data.

India & USA Trade Balance

USA is the leading exporting countries for Indian products. India exported 51,6 billion worth product to USA in 2018. However, USA labeled imported products were only 32,64 billion USD. It means, India have 18,96 billion surplus du to this trade.

Depending on GSP program, India exports about 3500 different products to the U.S. without a customs fee. In 2017, India exported 5,6 billion USD worth product to USA without customs fee. Its near %11 of total Indian exports to the U.S.

The US Goverment already announced eligibility review of India for the GSP. Trump ready to start a new trade war if India doesnt accept to make a trade balance between India & USA trade. Trump push India goverment to reduce the US goods customs tax and also decrease the number of goods inclusive the GSP program.

India Petoleum and Jewelery Sector

Petroleum, gems and jewelery is the most exported Indian products.

India's crude oil production is lower than in the Middle East and other leading oil producers. India's refined oil production, however, is large and exports refined oil to oil-producing countries such as Saudi Arabia and the UAE, as well as EU countries.

India had the world's largest diamond mines in the 18th century. India has a large industry in which diamonds and other gemstones are cut and polished. In India, the jewelry industry is export-oriented, as well as traditional processing experts, as well as modern technology.

India Agricultural Sector

70% of the Indian population lives in rural areas. More than 600,000 peasant populations are farming. Although India is the 20 th largest exporting country in the world, it ranks 6th in the export of agricultural products.

One of the basic dynamos of the Indian economy is definition. The country is the largest in the global market by exporting 7.75 billion USD of rice each year. On the other hand, India, with a population of 1.2 billion people, uses agricultural capacity to feed the internal population.

What most people don't know is that India's agricultural products earn more than trade in services or manufacturing. Thanks to proactive support, India can further increase farm exports and contribute to its prosperity.

India Political and Economic Developments

India exported USD 51.6 billion to the US in 2018. The United States plans to remove some countries, including India, from the GTS program in 2019. Thanks to the GTS program, India exports hundreds of products free of customs duty to the United States. Exclusion from the GTS program will cause India's exports to the US to drop significantly.

The political tension between India and Pakistan is transformed into border conflicts in some places. In February and March of 2019, on each side, they lowered each of their planes. The Indian media often state that the country's army and weapons need modernization. This will increase India's military spending. On the other hand, the conflicts with Pakistan negatively affect the trade with other countries. In light of these developments, we can say that the year 2019 will be difficult for both political and economic.

Top Export Products from India

1. Mineral fuels, mineral oils Petroleum Products: 48,29 billion USD
2. Pearls, precious or semi-precious stones: 40 billion USD
3. Machine, mechanical tools, parts thereof: 20.4 billion USD
4. Motor vehicles and parts and accessories thereof: 18,23 billion USD
5. Organic chemicals: 17.74 billion USD
6. Pharmaceutical products: USD 14.27 billion
7. Iron and steel: 99.75 billion USD
8. Knitted apparel and accessories: 81.26 billion USD
9. Electrical machinery and equipment and parts thereof: 11.78 billion USD

India's Most Exporting Countries

1. United States: 51.6 billion USD
2. United Arab Emirates: 29 billion USD
3. China: 16.4 billion USD
4. Hong Kong: 13.20 billion USD
5. Singapore: 10.42 billion USD
6. United Kingdom: 97.8 billion USD
7. Germany: 89,69 billion USD
8. Bangladesh: 87.52 billion USD
9. Netherlands: 86,52 billion USD
10. Nepal: USD 72.92 billion

Top Import Products in India

1. Mineral fuels, mineral oils Petroleum Products: 168.5 billion USD
2. Pearls, precious or semi-precious stones: 65 billion USD
3. Electrical machinery equipment and parts 52,39
4. Machinery, mechanical tools, parts thereof: 43,23 billion USD
5. Organic chemicals: 22,57
6. Plastic products: 15,19
7. Iron and Steel: 11,96
8. Animal and vegetable oils: 10,16
9. Optical photographic and medical devices: 94,55
10. Inorganic chemicals: 72,62

Most Import Countries to India

1. China: 73,73 billion USD
2. US: 32.64 billion USD
3. Saudi Arabia: 28.36 billion USD
4. Iraq: 26.77 billion USD
5. Switzerland: 23,06 billion USD
6. South Korea: 18,02 billion USD
7. Indonesia: USD 16.36 billion
8. Hong Kong: USD 16.02 billion
9. Iran: 15.89 billion USD
10. Singapore: 14.76 billion USD