Imports/Exports in India
India was a protectionist state for a long time, but the country has become progressively more open to international trade. It has recently signed free trade agreements with South Korea and the ASEAN, and has entered into negotiations with several partners (EU, MERCOSUR, Australia, New Zealand, South Africa).
India recorded a high commercial deficit due to the price rise of raw materials which increased the import invoices. In regards of exports, they have recorded a lower progression during the last recent years due to the rise of the rupee in relation to the dollar (most of the exports are drawn up in dollars) and the decline of the global demand. During the economic crisis, exports dropped at a slower rhythm than imports, creating a reduction of the commercial deficit.
The main trade partners of India are the European Union, the United Arab Emirates, China and the United States.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||178,410||229,370||321,032||257,202||322,702|
|Exports of Goods (million USD)||121,808||150,159||194,827||164,907||216,162|
|Imports of Services (million USD)||58,222||70,388||87,760||80,274||116,906|
|Exports of Services (million USD)||69,456||86,612||103,829||90,193||109,514|
|Imports of Goods and Services (Annual % Change)||22.0||10.0||23.0||-7.3||-|
|Exports of Goods and Services (Annual % Change)||21.8||5.2||19.3||-6.7||-|
|Imports of Goods and Services (in % of GDP)||24.4||24.7||29.0||25.3||-|
|Exports of Goods and Services (in % of GDP)||21.3||20.6||23.5||20.6||-|
|Trade Balance (million USD)||-42,804||-54,827||-92,361||-78,816||-|
|Trade Balance (Including Service) (million USD)||-31,770||-42,290||-80,755||-||-|
|Foreign Trade (in % of GDP)||45.7||45.2||52.5||45.8||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|United Arab Emirates||14.4%|
|Other partnersClose extended list||61.0%|
(% of Imports)
|United Arab Emirates||7.4%|
|Other partnersClose extended list||65.1%|
Exchange Rate System
- Exchange Rate Regime
- Managed floating with no pre-determined path for the exchange rate.
|Indian Rupee (INR) - Average Annual Exchange Rate For 1 USD||44.10||45.31||41.35||43.51||48.41|
Source: World Bank
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