India

In 2014, the value of merchandise exports of India decreased moderately by 5.7 percent to reach 317.5 bln US$, while its merchandise imports decreased slightly by 1.4 percent to reach 459.4 bln US$ (see graph 1, table 2 and table 3). After a reduction in the merchandise trade deficit in 2013, the deficit increased to 141.8 bln US$ in 2014, mainly as a result of decreasing exports (see graph 1). The largest merchandise trade balance was with MDG Western Asia at -50.1 bln US$ (see graph 4). Merchandise exports in India were diversified amongst partners; imports were also diversified. The top 31 partners accounted for 80 percent or more of exports and 24 partners accounted for 80 percent or more of imports (see graph 5). In 2013, the value of exports of services of India increased slightly by 2.1 percent, reaching 148.6 bln US$, while its imports of services decreased slightly by 2.0 percent and reached 78.3 bln US$ (see graph 2). The trade in services surplus increased for the fourth consecutive year, resulting in a large surplus of 70.3 bln US$.

Related Subject(s): International Trade and Finance

Countries: India