India2019 Economic Complexity : 0.59, Rank 44 of 146
2019 Product Exports | Imports: $330B | $474B, 15 of 225 | 11 of 225
2019 Per Capita Product Exports | Imports: $241 | $347, 180 of 219 | 189 of 219
2019 Service Exports | Imports : $205B | $121B, 2 of 69 | 3 of 69
Overview In 2019 India was the number 5 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 11 in total imports, the number 142 economy in terms of GDP per capita (current US$) and the number 44 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of India are Refined Petroleum ($39.2B), Diamonds ($22.5B), Packaged Medicaments ($15.8B), Jewellery ($14.1B), and Cars ($7.15B), exporting mostly to United States ($55.3B), United Arab Emirates ($28.6B), China ($17.4B), Hong Kong ($11.5B), and Singapore ($9.53B).
In 2019, India was the world's biggest exporter of Diamonds ($22.5B), Jewellery ($14.1B), Rice ($6.9B), Crustaceans ($4.67B), and Non-Retail Pure Cotton Yarn ($2.86B)
Imports The top imports of India are Crude Petroleum ($92.7B), Gold ($33.8B), Coal Briquettes ($24.9B), Diamonds ($21.4B), and Petroleum Gas ($16.4B), importing mostly from China ($72.6B), United States ($33.7B), United Arab Emirates ($26.8B), Saudi Arabia ($25.1B), and Iraq ($19.8B).
In 2019, India was the world's biggest importer of Coal Briquettes ($24.9B), Diamonds ($21.4B), Palm Oil ($4.85B), Nitrogenous Fertilizers ($2.71B), and Soybean Oil ($2.39B)
Location India borders Afghanistan, Bangladesh, Bhutan, Myanmar, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.
May, 2021
Overview In May 2021 India exported $32B and imported $38.2B, resulting in a negative trade balance of $6.21B. Between May 2020 and May 2021 the exports of India have increased by $12.9B (67.6%) from $19.1B to $32B, while imports increased by $16B (72.3%) from $22.2B to $38.2B.
Trade In May 2021, the top exports of India were Petroleum Products ($5.28B), Pearl, Precs, Semiprecs Stones ($2.17B), Iron And Steel ($1.69B), Drug Formulations, Biologicals ($1.43B), and Ship, Boat And Floating Struct ($976M). In May 2021 the top imports of India were Petroleum: Crude ($7.24B), Pearl, Precs, Semiprecs Stones ($2.23B), Petroleum Products ($2.14B), Coal,Coke And Briquittes Etc ($1.97B), and Vegetable Oils ($1.42B).
Destinations In May 2021, India exported mostly to United States ($5.4B), United Arab Emirates ($2.27B), China ($2.14B), Singapore ($1.35B), and Hong Kong ($1.04B), and imported mostly from China ($7.08B), United States ($3.15B), United Arab Emirates ($2.37B), Iraq ($1.97B), and Saudi Arabia ($1.75B).
Growth In May 2021, the increase in India's year-by-year exports was explained primarily by an increase in exports to United States ($2.54B or 88.8%), United Arab Emirates ($1.05B or 86.8%), and Singapore ($701M or 108%), and product exports increase in Petroleum Products ($3.65B or 224%), Pearl, Precs, Semiprecs Stones ($1.29B or 145%), and Gold And Oth Precs Metl Jwlery ($581M or 337%). In May 2021, the increase in India's year-by-year imports was explained primarily by an increase in imports from China ($2.41B or 51.7%), United Arab Emirates ($1.6B or 208%), and Iraq ($1.46B or 282%), and product imports increase in Petroleum: Crude ($5.13B or 244%), Pearl, Precs, Semiprecs Stones ($1.85B or 486%), and Vegetable Oils ($844M or 147%).
EXPORT GROWTH (May 2020 - May 2021): $12.9B, (67.6%)
IMPORT GROWTH (May 2020 - May 2021): $16B, (72.3%)
MAIN DESTINATION (May 2021): United States, $5.4B
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 (2019): Refined Petroleum, $39.2B
Top Destination (2019): United States, $55.3B
In 2019, India exported a total of $330B, making it the number 15 exporter in the world. During the last five reported years the exports of India have changed by $9.73B from $320B in 2014 to $330B in 2019.
The most recent exports are led by Refined Petroleum ($39.2B), Diamonds ($22.5B), Packaged Medicaments ($15.8B), Jewellery ($14.1B), and Cars ($7.15B). The most common destination for the exports of India are United States ($55.3B), United Arab Emirates ($28.6B), China ($17.4B), Hong Kong ($11.5B), and Singapore ($9.53B).
Top Import (2019): Crude Petroleum, $92.7B
Top Origin (2019): China, $72.6B
In 2019 India imported $474B, making it the number 11 trade destination in the world. During the last five reported years the imports of India changed by $35.3B from $439B in 2014 to $474B in 2019.
The most recent imports of India are led by Crude Petroleum ($92.7B), Gold ($33.8B), Coal Briquettes ($24.9B), Diamonds ($21.4B), and Petroleum Gas ($16.4B). The most common import partners for India are China ($72.6B), United States ($33.7B), United Arab Emirates ($26.8B), Saudi Arabia ($25.1B), and Iraq ($19.8B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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 Spice Seeds (27.6), Other Organic Compounds (25.7), Processed Hair (25.3), Granite (24.2), and Coconut and Other Vegetable Fibers (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 Esters of inorganic acids nes, salts, derivatives (1.83), Bar or rod of stainless steel, hot rolled, coiled (1.78), Hand-operated spanners, wrenches and sockets (1.7), Ion exchangers based on polymers in primary forms (1.62), and Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.6). 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), Fake Hair (0.39), Niobium, Tantalum, Vanadium and Zirconium Ore (0.39), Animal Hair (0.39), and Non-Knit Gloves (0.39). 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.
During the last 20 years India's economy has become relatively más complex, moving from the 51st to the 44th 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.