Russia’s Top 10 Imports
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Iran’s Top 10 Exports
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Top Indian Trade Balances

Crude oil, gold, coal and smartphones were major factors behind India’s highest trade deficits by product in 2017. China, Switzerland and Saudi Arabia took the top three spots for trade partners giving India the highest negative balances exchanging exports and imports.

India’s overall trade deficit for all products equaled -US$148.2 billion in 2017, up by 14.3% from -$129.6 billion for 2010.

Year over year, the -$148.2 billion in red ink represents a 53.8% expansion from the -$96.4 billion deficit that India incurred during 2016 from international trade transactions.

Products

The following 10 leading products generated a surplus subtotal of $84 billion for India in its global trade during 2017. Metrics listed below highlight India’s strongest competitive advantages over worldwide trading partners.

1.    Processed petroleum oils: US$31 billion (Up 0.6% since 2010)

2.    Jewelry: $12 billion (Up 58.3%)

3.    Medication mixes in dosage: $10.5 billion (Up 140.7%)

4.    Rice: $7.1 billion (Up 208.4%)

5.    Cars: $6.4 billion (Up 57.2%)

6.    Crustaceans (including lobsters): $4.7 billion (Up 350.3%)

7.    Frozen beef: $3.9 billion (Up 135%)

8.    Yarn (85%+ cotton): $3.4 billion (Up 22.8%)

9.    T-shirts, vests (knit or crochet): $2.7 billion (Up 58%)

10.  Women’s clothing (not knit or crochet): $2.3 billion (Up 26.2%)

All of India’s top product surpluses expanded in value from 2010 to 2017 led by: lobsters and other crustaceans (up 350.3%), rice (up 208.4%), medication mixes in dosage (up 140.7%) and frozen beef (up 135%).

The modest increase among the top positive trade balances was the 0.6% gain for refined petroleum oils.
The 10 major products below accumulated a deficit subtotal of -$193 billion for India in international trade during 2017. India has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

1.    Crude oil: -US$82 billion (Down -7.4% since 2010)

2.    Gold (unwrought): -$33.9 billion (Down -11.4%)

3.    Coal, solid fuels made from coal: -$20 billion (Up 115.6%)

4.    Phone system devices including smartphones: -$19.6 billion (Up 124.2%)

5.    Petroleum gases: -$12.9 billion (Up 142.8%)

6.    Palm oil: -$6.8 billion (Up 50.7%)

7.    Computers, optical readers: -$5.4 billion (Up 134.0%)

8.    Solar power diodes/semi-conductors: -$4.9 billion (Up 12499.2%)

9.    Copper ores, concentrates: -$3.9 billion (Down -15.2%)

10.  Dried shelled vegetables: -$3.7 billion (Up 123.4%)

From 2010 to 2017, India’s red ink in global trade expanded at the fastest rate for the following products: solar power diodes and semi-conductors (up 12,500%), petroleum gases (up 142.8%), computers plus optical readers (up 134%) then phone system devices including smartphones (up 124.2%).

Deficits for three of India’s top trade products shrank for three subcategories namely copper ores and concentrates(down -15.2%), gold (down -11.4%) and crude oil (down -7.4%).

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