Trade Trend

In 2023, India's total export value is 431.26Billion USD, total import value is 670.25Billion USD, Deficit is -238.99Billion USD, and foreign trade dependency is 0.310. In 2023，India's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(85.21Billion USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(18.80Billion USD), Diamonds, whether or not worked, but not mounted or set(18.15Billion USD), top export destinations are United States(75.69Billion USD), United Arab Emirates(33.01Billion USD), Netherlands(23.14Billion USD). In 2023, India's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(138.73Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(42.58Billion USD), Coal; briquettes, ovoids and similar solid fuels manufactured from coal(37.09Billion USD), top import origins are China(99.58Billion USD), Russia(60.58Billion USD), United Arab Emirates(45.47Billion USD).

Comparing to 2022, India's total export value decreased -21.38Billion USD(-4.72%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-8.77Billion USD or -9.33%), Diamonds, whether or not worked, but not mounted or set(-5.86Billion USD or -24.41%), Aluminium; unwrought(-2.74Billion USD or -36.53%) and export decreases to countries/economics such as United States(-4.35Billion USD or -5.44%), Brazil(-2.97Billion USD or -30.80%), Sri Lanka(-2.76Billion USD or -43.64%). Comparing to 2022, India's total import value decreased -49.76Billion USD(-6.91%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-21.35Billion USD or -13.34%), Coal; briquettes, ovoids and similar solid fuels manufactured from coal(-11.86Billion USD or -24.23%), Petroleum gases and other gaseous hydrocarbons(-7.28Billion USD or -22.66%), and its import decreases from countries/economies such as Saudi Arabia(-9.67Billion USD or -22.33%), Iraq(-8.04Billion USD or -21.60%), United States(-7.95Billion USD or -15.50%).

Cumulated to first 7 months of 2024, India's total export value is 170.45Billion USD, total import value is 247.89Billion USD, and tradedeficit is -77.43Billion USD. Cumulated to first 7 months of 2024, India's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(29.23Billion USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(8.18Billion USD), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(8.12Billion USD), and top export destinations are United States(36.07Billion USD), United Arab Emirates(13.34Billion USD), Netherlands(9.00Billion USD). Cumulated to first 7 months of 2024, India's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(29.23Billion USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(8.18Billion USD), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(8.12Billion USD), and top import origins areChina(42.49Billion USD), Russia(21.59Billion USD), United Arab Emirates(18.55Billion USD).