IndiaEcon Complexity (2018): 0.57, Rank 45 of 137
Product Exports (2018): $326B, Rank 16 of 222
Exports Per Capita (2018): $241, Rank N/A of N/A
Product Imports (2018): $492B, Rank 11 of 221
Imports Per Capita (2018): $364, Rank N/A of N/A
Service Exports (2018): $119B, Rank 6 of 88
Service Imports (2018): $120B, Rank 7 of 88
Overview: In 2018 India was the number 7 economy in the world in terms of GDP (current US$), the number 16 in total exports, the number 11 in total imports, and the number 45 most complex economy according to the Economic Complexity Index (ECI). In 2018, India exported $326B and imported $492B, resulting in a negative trade balance of -$166B. In 2018, India's exports per capita were $241 and its imports per capita were $364.
Trade: The top exports of India are Refined Petroleum ($41.5B), Diamonds ($26.3B), Packaged Medicaments ($14B), Jewellery ($12.4B), and Rice ($7.47B). The top imports of India are Crude Petroleum ($101B), Gold ($32.8B), Coal Briquettes ($27.2B), Diamonds ($24.9B), and Petroleum Gas ($16.9B).
Destinations: India exports mostly to United States ($52B), United Arab Emirates ($27.1B), China ($16.6B), Hong Kong ($12.8B), and Germany ($9.66B), and imports mostly from China ($75.5B), United States ($31.6B), Saudi Arabia ($26.3B), United Arab Emirates ($23.8B), and Iraq ($20.8B).
Location: India borders Afghanistan, Bangladesh, Bhutan, Burma, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.
Top Export (2018): Refined Petroleum, $41.5B
Top Destination (2018): United States, $52B
In 2018 India exported a total of $326B, making it the number 16 exporter in the world. During the last five reported years the exports of India have changed by $13B from $313B in 2013 to $326B in 2018.
The most recent exports are led by Refined Petroleum ($41.5B), Diamonds ($26.3B), Packaged Medicaments ($14B), Jewellery ($12.4B), and Rice ($7.47B). The most common destination for the exports of India are United States ($52B), United Arab Emirates ($27.1B), China ($16.6B), Hong Kong ($12.8B), and Germany ($9.66B).
Top Import (2018): Crude Petroleum, $101B
Top Origin (2018): China, $75.5B
In 2018 India imported $492B, making it the number 11 trade destination in the world. During the last five reported years the imports of India changed by $53B from $439B in 2013 to $492B in 2018.
The most recent imports of India are led by Crude Petroleum ($101B), Gold ($32.8B), Coal Briquettes ($27.2B), Diamonds ($24.9B), and Petroleum Gas ($16.9B). The most common import partners for India are China ($75.5B), United States ($31.6B), Saudi Arabia ($26.3B), United Arab Emirates ($23.8B), and Iraq ($20.8B).
Fastest Growing Export Markets (2017 - 2018)
Fastest Growing Import Markets (2017 - 2018)
India Exports Services (2018): $119B
India Imports Services (2018): $120B
In 2018, India exported $119B worth of services. The top services exported by India in 2018 were Miscellaneous business, professional, and technical services ($34.9B), Personal travel ($26B), Other government services ($19B), Sea transport ($12.7B), and Air transport ($5.76B).
The top services imported by India in 2018 were Miscellaneous business, professional, and technical services ($38.4B), Other government services ($16.3B), Personal travel ($15.2B), Sea transport ($10.1B), and Air transport ($9.5B).
This section shows forecasts for total product exports and imports for India. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
The top product import tariffs by their MFN Ad Valorem value for India are Alcoholic liqueurs nes (150%) and Fermented beverages nes (eg cider, perry, mead, etc) (150%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for India are:
During the last 20 years India's economy has become relatively more complex, moving from the 50th to the 45th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
India has a high level of specialization in Spice Seeds (28.9), Other Organic Compounds (26.1), Granite (24.8), Coconut and Other Vegetable Fibers (22.1), and Processed Hair (21). Specialization is measured using RCA, an index that takes the ratio between India observed and expected exports in each product.
The highest complexity exports of India according to the product complexity index (PCI) are Gaskets and similar joints of metal sheet (1.86), Industrial, laboratory electric furnaces, ovens, etc (1.8), Bar or rod of stainless steel, hot rolled, coiled (1.74), Hand-operated spanners, wrenches and sockets (1.64), and Rolled stainless steel sheet, width < 600mm (1.62). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for India according to the relatedness index, are Chromium Ore (0.41), Non-Petroleum Gas (0.39), Fake Hair (0.39), Knit Sweaters (0.38), and Knitted Hats (0.38). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that India is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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