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List of the largest trading partners of India

 

List of the largest trading partners of India

According to the Department of Commerce, the fifteen largest trading partners of India represent 60% of total trade by India and 80% of its trade deficit in the financial year 2012-13. These figures do not include services or foreign direct investment, but only trade in goods. The two largest goods traded by India are Mineral fuels (refined / unrefined) and gold (finished gold ware or 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.[1]

The largest Indian partners with their total trade (sum of imports and exports) in millions of US Dollars for financial year 2012–2013 are as follows:[1]

Country Exports Imports Total Trade Trade Balance
All countries 300,400 490,736 791,136 -190,336.00
 United Arab Emirates 36,265.15 38,436.47 74,701.61 -2171.32
 China 13,503.00 54,324.04 67,827.04 -40,821.04
 United States 36,152.30 24,343.73 60,496.03 11,808.57[2]
 Saudi Arabia 9783.81 34,130.50 43,914.31 -24,346.69
 Switzerland 1,116.98 29,915.78 31,032.76 -28,798.80
 Singapore 13,608.65 7,754.38 21,363.03 5,854.27[2]
 Germany 7,244.63 14,373.91 21,618.54 -7129.28
 Hong Kong 12,278.31 8,078.58 20,356.89 4,199.74[2]
 Indonesia 5,331.47 14,774.27 20,105.75 -9,442.80
 Iraq 1,278.13 20,155.94 21,434.07 -18,877.81
 Japan 6,099.06 12,514.07 18,613.14 -6,415.01
 Belgium 5,506.63 10,087.16 15,593.80 -4,580.53
 Kuwait 1,060.80 16,569.63 17,630.43 -15,508.83
 Iran 3,351.07 11,603.79 14,954.86 -8,252.72
 South Korea 4,201.49 13,461.25 17,662.73 -9,259.76

This list does not include the Gulf Cooperation Council (GCC), which includes two (UAE and Saudi Arabia) of the above states in a single economic entity. As a single economy the Gulf Cooperation Council (GCC) is the largest trading partner of India with almost $160 billion in total trade.[3]

This list also does not include the European Union (EU), which includes two (Germany and Belgium) of the above states in a single economic entity. As a single economy, the EU is the second largest trading partner of India with €40.5 billion worth of EU goods going to India and €39.4 billion of Indian goods going to the EU as of 2011, totaling approximately 79.8 billion ($104 Billion USD) in total trade.[4][5]

India is also the largest export and/or import partner of the following countries:
Exports[6] Imports[7]

See also

References

  1. ^ a b Total Trade :: Top 15 countries
  2. ^ a b c re-exported items such as refined petroleum products and gold jewellery
  3. ^ http://articles.timesofindia.indiatimes.com/2012-08-27/middle-east/33423767_1_bahrain-s-sunni-middle-east-unrest-gulf-cooperation-council
  4. ^ European Commission Bilateral Trade with India
  5. ^ EU'S Trade Balance with India
  6. ^ https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html
  7. ^ https://www.cia.gov/library/publications/the-world-factbook/fields/2061.html
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