Foreign Trade

The foreign trade (export+import) has increased from 42 billion US $, in 1990-91 to 765 billion US$ in the year 2013-14 with an annual average growth rate of 13.42% and has increased 18 folds during the period.

The gap, between value of import and export, which is Trade deficit, has also increased during the said period. The trade deficit has increased from 6 billion US $ in 1990-91 to 136 billion US $ in 2013-14. Foreign trade i.e. exports and imports are influenced by a number of macroeconomic factors of the country and the world, like demand and supply, exchange rates, economic conditions of different countries.

Top 10 countries, which have imported more from India than exported to India during 2013-14 are USA, Singapore, Bangladesh, Hong Kong, Netherlands, Sri Lanka, U.K., Kenya, Nepal, Vietnam etc. whereas during 1990-91 such countries were USSR, Hong Kong, Bangladesh, Thailand, Sri Lanka, Egypt, Mauritius, Spain, Afghanistan, Nigeria etc.

The details of country wise Exports and Imports and quantity are available in the DGCI&S publication in CD form namely ‘Monthly Statistics of Foreign Trade of India’ Vol. I (Exports) & Vol.II (Imports). Such CD’s are regularly sent to Parliament Library by DGCI&S, Kolkata.

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.