Top 10 Leading Trading Partners of India 2017

As per the statistics prepared by the Ministry of Commerce and Industry there are 15 countries which contribute to the 60 percent of total trade (only goods and commodities) in the financial year 2015-2016. The highest portion of goods which are the part of trading is minerals and gold. In current situation, it can be observed that many countries are willing with a high effort to be the trading partners with India. The trade and business in India is moving the peak level so lots and import and export is observed which is definitely increasing the competition between the import and export partners. As per the recent records and statistics, I have picked up top 10 Leading Trading partners of India in 2017.

Many countries like Nepal, Bangladesh, Bhutan and Pakistan has the border with India, though they are not the leading partners but they are definitely the close partners to India.

Top 10 Leading trading partners of India are listed in order below on the basis of the import and export values of the Financial Year 2014-15-

10. Malaysia

The total exports made by India to Malaysia is 3,708.86 million US Dollar whereas the imports made from Malaysia is 9,083.83 million US Dollar which shows that there is the trade deficit of 5,301.90 million US Dollar. The main items and commodities on which trading is done with Malaysia are Petroleum Products, Wood and Wood Products, Rubber, Palm Oil and Chemicals.

9. South Korea

The total exports made by India to South Koreais 3,522.64 million US Dollar whereas the imports made from South Korea is 13,047.12 million US Dollar which shows that there is the trade deficit of 9,524.48 million US Dollar. The major trading done with South Korea are Cars and Vehicles, Integrated Circuits, Ships and Cargos and other electronic products.

8. Indonesia

The total exports made by India to Indonesia is 2,819.54 million US Dollar whereas the imports made from Indonesia is 13,131.93 million US Dollar which shows that there is the trade deficit of 10,961.32 million US Dollar. The goods and commodities in which major trading is done with Indonesia are Corns, motor parts, synthetic chemicals, cotton, rubber and rolled coils and iron.

7. Hong Kong

The total exports made by India to Hong Kongis 12,092.21 million US Dollar whereas the imports made from Hong Kong is 6,051.66 million US Dollar which shows that there is the trade surplus of 6,040.55 million US Dollar. The items that covers the major portion of trade goods with Hong Kong are jewelry, precious metals, leather processed items, cotton yarn, fish, diamonds and electrical and motor parts fitting material.

6. Germany

The total exports made by India to Germany is 7,092.89 million US Dollar whereas the imports made from Germany is 12,088.37 million US Dollar which shows that there is the trade deficit of 5,250.52 million US Dollar.Some of the major products and commodities that is traded with Germany are footwear, leather apparels, motor vehicle parts and other different items like trunks, carry cases of camera, telescope, musical instrument, iron and steel, men and women wears.

5. Switzerland

The total exports made by India to Switzerland is 977.17 million US Dollar whereas the imports made from Switzerland is 19,299.49 million US Dollar which shows that there is the trade deficit of 18,322.32 million US Dollar.The top products traded with Switzerland are unused postage, stocks and bonds from Switzerland, turbo jet engines and gas turbines, organic compounds and women wears and accessories like heels, leggings, cushion, etc.

4. Saudi Arabia

The total exports made by India to Saudi Arabia is 6,394.23 million US Dollar whereas the imports made from Saudi Arabia is 20,321.33 million US Dollar which shows that there is the trade deficit of 13,927.1 million US Dollar.Mostly the agricultural products, meat, motor cars and their parts, tubes and pipes, iron and steel products and various items which are semi-finished in nature.

3. United Arab Emirates

The total exports made by India to United Arab Emirates is 30,290.01 million US Dollar whereas the imports made from United Arab Emirates is 19,445.68 million US Dollar which shows that there is the trade surplus of 10,844.33 million US Dollar. The major items that are traded with United Arab Emirates are electronic goods, petroleum, food products, textiles and other plastic items.

2. United Sates

The total exports made by India to United States is 40,335.82 million US Dollar whereas the imports made from United States is 21,781.39 million US Dollar which shows that there is the trade surplus of 18,554.43 million US Dollar. A large number of items are traded with US like mobiles phones, electrical goods, food products, crude petroleum, precision equipment, clothes and textiles products and many more

1. China

The total exports made by India to China is 9,010.35 million US Dollar whereas the imports made from China is 61,706.83 million US Dollar which shows that there is the trade deficit of 52,696.48 million US Dollar. There is a heavy import of goods from china and the products like small digital and electrical equipment, crockeries, data processing machineries and heavy plants, minerals, iron and steel, chemicals and anti-biotics and other varieties of commodities of daily use form the part of trade from China.

These are the top and the leading trading partners of India. A slight fluctuation can be seen in the ranking but these countries remain mostly within the top 10 rankings. Trade deficit and surplus are arising from these countries but there is a healthy trade relation with these countries. Keep in tune with us for more updates.

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