India2020 Economic Complexity : 0.56, Rank 40 of 127
2020 Product Exports | Imports: $284B | $372B, 18 of 226 | 12 of 226
2020 Per Capita Product Exports | Imports: $206 | $269, 178 of 219 | 192 of 219
2019 Service Exports | Imports : $205B | $121B, 2 of 69 | 3 of 69
Overview In 2020 India was the number 6 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 12 in total imports, the number 150 economy in terms of GDP per capita (current US$) and the number 40 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of India are Refined Petroleum ($25.3B), Packaged Medicaments ($17.8B), Diamonds ($16B), Rice ($8.21B), and Jewellery ($7.57B), exporting mostly to United States ($49.7B), China ($18.5B), United Arab Emirates ($18.1B), Hong Kong ($9.18B), and Germany ($8.8B).
In 2020, India was the world's biggest exporter of Diamonds ($16B), Rice ($8.21B), Crustaceans ($3.95B), Non-Retail Pure Cotton Yarn ($2.61B), and Pepper ($1.16B)
Imports The top imports of India are Crude Petroleum ($59B), Gold ($21.9B), Coal Briquettes ($20.9B), Diamonds ($15.8B), and Petroleum Gas ($13.8B), importing mostly from China ($64.2B), United States ($26.6B), United Arab Emirates ($22.1B), Saudi Arabia ($16.8B), and Iraq ($14.4B).
In 2020, India was the world's biggest importer of Coal Briquettes ($20.9B), Diamonds ($15.8B), Palm Oil ($5.04B), Soybean Oil ($3.02B), and Nitrogenous Fertilizers ($2.64B)
Location India borders Afghanistan, Bangladesh, Bhutan, Myanmar, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.
February, 2022
Overview In February 2022 India exported $37.1B and imported $57B, resulting in a negative trade balance of $19.9B. Between February 2021 and February 2022 the exports of India have increased by $9.61B (34.9%) from $27.5B to $37.1B, while imports increased by $16.5B (40.6%) from $40.5B to $57B.
Trade In February 2022, the top exports of India were Petroleum Products ($6.9B), Pearl, Precs, Semiprecs Stones ($2.42B), Iron And Steel ($1.76B), Drug Formulations, Biologicals ($1.5B), and Aluminium, Products Of Aluminm ($1.05B). In February 2022 the top imports of India were Petroleum: Crude ($13.3B), Gold ($4.78B), Petroleum Products ($3.53B), Pearl, Precs, Semiprecs Stones ($3.2B), and Coal,Coke And Briquittes Etc ($2.86B).
Destinations In February 2022, India exported mostly to United States ($6.17B), United Arab Emirates ($2.6B), Bangladesh ($1.59B), Netherlands ($1.44B), and China ($1.41B), and imported mostly from China ($8.51B), United Arab Emirates ($4.5B), United States ($4.46B), Saudi Arabia ($3.71B), and Iraq ($3.6B).
Growth In February 2022, the increase in India's year-by-year exports was explained primarily by an increase in exports to United States ($514M or 11.6%), South Africa ($494M or 166%), and Australia ($293M or 142%), and product exports increase in Pearl, Precs, Semiprecs Stones ($403M or 22.8%), Iron Ore ($275M or 109%), and Rice(Other Than Basmoti) ($267M or 150%). In February 2022, the increase in India's year-by-year imports was explained primarily by an increase in imports from Switzerland ($1.43B or 158%), China ($660M or 11%), and South Africa ($366M or 78.2%), and product imports increase in Gold ($2.45B or 155%), Pearl, Precs, Semiprecs Stones ($735M or 50.2%), and Vegetable Oils ($298M or 35.6%).
EXPORT GROWTH (February 2021 - February 2022): $9.61B, (34.9%)
IMPORT GROWTH (February 2021 - February 2022): $16.5B, (40.6%)
MAIN DESTINATION (February 2022): United States, $6.17B
This section shows exports and imports data at subnational level for India. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of India over time.
For full datasets download visit Bulk Download page.
Top Export (2020): Refined Petroleum, $25.3B
Top Destination (2020): United States, $49.7B
In 2020, India exported a total of $284B, making it the number 18 exporter in the world. During the last five reported years the exports of India have changed by $7.62B from $276B in 2015 to $284B in 2020.
The most recent exports are led by Refined Petroleum ($25.3B), Packaged Medicaments ($17.8B), Diamonds ($16B), Rice ($8.21B), and Jewellery ($7.57B). The most common destination for the exports of India are United States ($49.7B), China ($18.5B), United Arab Emirates ($18.1B), Hong Kong ($9.18B), and Germany ($8.8B).
Top Import (2020): Crude Petroleum, $59B
Top Origin (2020): China, $64.2B
In 2020 India imported $372B, making it the number 12 trade destination in the world. During the last five reported years the imports of India changed by -$5.65B from $377B in 2015 to $372B in 2020.
The most recent imports of India are led by Crude Petroleum ($59B), Gold ($21.9B), Coal Briquettes ($20.9B), Diamonds ($15.8B), and Petroleum Gas ($13.8B). The most common import partners for India are China ($64.2B), United States ($26.6B), United Arab Emirates ($22.1B), Saudi Arabia ($16.8B), and Iraq ($14.4B).
India Exports Services (2019): $205B
India Imports Services (2019): $121B
In 2019, India exported $205B worth of services. The top services exported by India in 2019 were Computer and information services ($94.4B), Other business services ($44.5B), Personal travel ($27.8B), Transportation ($21.1B), and Financial services ($4.82B).
The top services imported by India in 2019 were Other business services ($46.1B), Transportation ($24B), Personal travel ($16.9B), Computer and information services ($9.6B), and Royalties and license fees ($7.89B).
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:
India has a high level of specialization in Processed Hair (30.6), Spice Seeds (29.1), Granite (27.3), Other Organic Compounds (26), and Ground Nut Oil (24.5). 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 Esters of inorganic acids nes, salts, derivatives (1.96), Tool plates, tips, etc, sintered metal carbide, cermet (1.68), Bar or rod of stainless steel, hot rolled, coiled (1.68), Ion exchangers based on polymers in primary forms (1.65), and Hand-operated spanners, wrenches and sockets (1.64). 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 (0.43), Other Cloth Articles (0.43), Niobium, Tantalum, Vanadium and Zirconium Ore (0.42), Animal Hair (0.41), and Fake Hair (0.41). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years India's economy has become relatively more complex, moving from the 51st to the 40th 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.
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