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 2015-2016.[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) are 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) are the second largest traded item 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$) of India in the financial year 2013-14.[2] The services trade (exports and imports) are not part of commodities trade. The trade surplus in services trade is US$ 73 billions in the year 2013-14.[3]

Largest trading partners

India's largest trade partners with their total trade (sum of imports and exports) in millions of US dollars for financial year 2014–15 were as follows:[4]

Rank Country Exports Imports Total Trade Trade Balance
1  China 11,934.25 60,413.17 72,347.42 -48,478.91
2  United States 42,448.66 21,814.60 64,263.26 20,634.05
3  United Arab Emirates 33,028.08 26,139.91 59,167.99 6,888.17
4  Saudi Arabia 11,161.43 28,107.56 39,268.98 -16,946.13
5   Switzerland 1,068.58 22,133.16 23,201.74 -21,064.58
6  Germany 7,537.34 12,787.86 20,325.20 -5,250.52
7  Hong Kong 13,599.88 5,571.99 19,171.87 8,027.89
8  Indonesia 4,043.32 15,004.64 19,047.96 -10,961.32
9  South Korea 4,602.95 13,529.11 18,132.06 -8,926.16
10  Malaysia 5,816.55 11,117.74 16,934.29 -5,301.19
11  Singapore 9,809.367,124.4716,933.83 2,684.89
12  Nigeria 2,681.37 13,682.97 16,364.34 -11,001.60
13  Belgium 5,519.47 10,805.92 16,325.39 -5,286.46
14  Qatar 1,054.98 14,604.71 15,659.69 -13,549.74
15  Japan 5,385.57 10,131.36 15,516.93 -4,745.79
16  Iraq 829.32 14,247.66 15,076.98 -13,418.34
17  Kuwait 1,198.89 13,381.97 14,580.85 -12,183.08
18  United Kingdom 9,319.73 5,018.28 14,338.01 4,301.46
19  Iran 4,175.06 8,955.02 13,130.08 -4,779.96
20  Australia 2,782.13 10,247.24 13,029.38 -7,465.11
21  Venezuela 258.07 11,729.89 11,987.96 -11,471.82
22  South Africa 4,161.29 7,562.83 11,724.12 -3,401.54
- Remaining Countries 126,781.49 104,918.63 231,698.36 21,862.85
India's Total 310,338.47 447,964.38 758,301.08 -137,625.92

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 2014 data as shown on the CIA World Factbook.

   
Exports[5]
Region Percentage
 Bhutan83.8%
   Nepal59.7%
 Guinea-Bissau52.3%
 Afghanistan33.5%
 Comoros28.4%
 Tanzania21.0%
 Nigeria15.4%
Imports[6]
Region Percentage
 Bhutan72.3%
   Nepal57.0%
 Mauritius21.7%
 Sri Lanka20.7%

Export partners

India exports approximately 7500 commodities to about 190 countries.[7] India exported US$ 264 billion worth of commodities in 2015.[8] The following table shows India's 11 largest destinations for exports:

Rank Country Value (US$ billion) Share of overall exports
1  United States 40.4 15.3%
2  United Arab Emirates 30.3 11.5%
3  Hong Kong 12.2 4.6%
4  China 9.5 3.6%
5  United Kingdom 8.9 3.4%
6  Singapore 7.8 3%
7  Germany 7 2.7%
8  Saudi Arabia 7 2.7%
9  Sri Lanka 5.5 2.1%
10  Bangladesh 5.5 2.1%
11  Vietnam 5.3 2%

Import partners

India imports around 6000 commodities from 140 countries.[9] India imported $390.7 billion worth of commodities in 2015, down by 15% from the previous year.[10] The following table shows India's 11 largest sources of imports:

Rank Country Value (US$ billion) Share of overall imports
1  China 61.5 15.8%
2  Saudi Arabia 21.4 5.5%
3   Switzerland 21.1 5.4%
4  United States 20.5 5.2%
5  United Arab Emirates 20.3 5.2%
6  Indonesia 13.9 3.5%
7  South Korea 13.1 3.4%
8  Germany 11.8 3%
9  Iraq 11.3 2.9%
10  Nigeria 10.2 2.6%
11  Qatar 9.7 2.5%

See also

References

  1. ↑ http://commerce.nic.in/eidb/iecnttopn.asp
  2. ↑ "Total Trade :: 25 Top countries". commerce.nic.in. Department of Commerce. Retrieved 20 December 2015.
  3. ↑ "Statistics - Services Export Promotion Council". Department of Commerce. Retrieved 20 December 2015.
  4. ↑ "Total Trade". commerce.nic.in. Department of Commerce. Retrieved 20 December 2015.
  5. ↑ "The World Factbook". www.cia.gov. Retrieved 2016-05-07.
  6. ↑ "The World Factbook". www.cia.gov. Retrieved 2016-05-07.
  7. ↑ Macroeconomics and Elementary Statistics. FK Publications. ISBN 9788187140900.
  8. ↑ "Top India Exports". www.worldsrichestcountries.com. Retrieved 2015-12-07.
  9. ↑ Macroeconomics and Elementary Statistics. FK Publications. ISBN 9788187140900.
  10. ↑ "Top India Imports". www.worldsrichestcountries.com. Retrieved 2015-12-07.
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