India USA trade balance analysis for 5 years : 2013- 2018

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Donald trump is crying for increasing import duties on goods from India and China. Reason is India’s trade balance in surplus with US and in 2017-18 it has reached to peak level of 21.2 billions US dollars. India imported goods from America worth 26.2 billion USD and exported good value of 47.8 USD. Thus India enjoys trade surplus with USA.

India USA trade balance 5 years
India USA trade balance 5 years

Key Points of India USA trade balance in 5 years

  1. Export to USA increased by 13.4% in FY 2017-18
  2. Import from USA increased by 19.3%
  3. India’s export to USA in 5 years is highest in 2017-18 at 47.8 billion USD.
  4. India’s import from USA is highest in 2017-18 at 26.6 billions USD.
  5. Trade balance is in favor of India in tune of 21.26 billion USD.
  6. India’s total export was highest in 2013-14 at 314 billion USD in last 5 years.
  7. India’s import from USA is increasing  and it has been increased 18% since 2013-14

Also Read, India China trade balance analysis for 5 years : 2013- 2018

Review and Analysis of India USA trade balance

India primarily imports Nuclear reactor, Mineral oil and Mineral fuels from USA. India being hub of cultured pearls and precious stones attract import from all over world including USA. Aircraft and spacecraft is another category on which India look at America to import.

Top 25 commodities imported from USA in 2017-18

Country:  USA in Million $ US
S.No. Commodity 2016-17 2017-18 %Growth
1 Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. 3,059.66 4,448.13 45.38
2 Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. 1,666.11 3,973.53 138.49
3 Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal And Artcls Thereof;Imit.Jewlry;Coin. 2,082.36 2,762.73 32.67
4 Aircraft, Spacecraft, And Parts Thereof. 4,237.56 2,049.64 -51.63
5 Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. 1,296.45 1,754.84 35.36
6 Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; 1,451.64 1,596.99 10.01
7 Organic Chemicals 801.01 1,226.06 53.06
8 Plastic And Articles Thereof. 945.97 988.65 4.51
9 Edible Fruit And Nuts; Peel Or Citrus Fruit Or Melons. 658.6 872.28 32.45
10 Miscellaneous Chemical Products. 759.55 868.9 14.4
11 Pulp Of Wood Or Of Other Fibrous Cellulosic Material; Waste And Scrap Of Paper Or Paperboard. 466.85 591.83 26.77
12 Cotton. 289.51 461.93 59.55
13 Iron And Steel 377.5 455.93 20.78
14 Inorganic Chemicals; Organic Or Inorganic Compounds Of Precious Metals, Of Rare-Earth Metals, Or Radi. Elem. Or Of Isotopes. 343.9 361.31 5.06
15 Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. 221.95 321.53 44.87
16 Pharmaceutical Products 298.35 318.17 6.65
17 Beverages, Spirits And Vinegar. 206.75 272.6 31.85
18 Articles Of Iron Or Steel 228.91 256.5 12.05
19 Paper And Paperboard; Articles Of Paper Pulp, Of Paper Or Of Paperboard. 232.4 244.04 5.01
20 Rubber And Articles Thereof. 201.64 241.49 19.76
21 Aluminium And Articles Thereof. 142.19 223.4 57.11
22 Fertilisers. 194.88 211.65 8.61
23 Project Goods; Some Special Uses. 211.05 169.79 -19.55
24 Tanning Or Dyeing Extracts; Tannins And Their Deri. Dyes, Pigments And Other Colouring Matter; Paints And Ver; Putty And Other Mastics; Inks. 149.22 167.57 12.3
25 Glass And Glassware. 139.71 135.8 -2.8

As India is hub for polished diamonds, India export natural pearls, cultured pearls, metal and precious stones to America as top commodity.  Pharmaceuticals products, worn clothing, rags are another key commodities India exports to USA.

Top 25 commodities exported to USA in 2017-18

Country:  USA in Million $ US
S.No. Commodity 2016-17 2017-18 %Growth
1 Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal And Artcls Thereof;Imit.Jewlry;Coin. 9,734.37 10,058.76 3.33
2 Pharmaceutical Products 5,098.25 4,667.24 -8.45
3 Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. 2,071.12 2,838.07 37.03
4 Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. 1,870.12 2,578.20 37.86
5 Other Made Up Textile Articles; Sets; Worn Clothing And Worn Textile Articles; Rags 2,397.11 2,390.99 -0.26
6 Articles Of Apparel And Clothing Accessories, Not Knitted Or Crocheted. 2,052.14 2,127.74 3.68
7 Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. 1,195.45 2,125.82 77.83
8 Fish And Crustaceans, Molluscs And Other Aquatic Invertabrates. 1,560.73 2,105.94 34.93
9 Articles Of Apparel And Clothing Accessories, Knitted Or Corcheted. 1,696.17 1,736.79 2.39
10 Articles Of Iron Or Steel 1,263.60 1,605.49 27.06
11 Organic Chemicals 1,393.66 1,581.24 13.46
12 Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. 1,150.85 1,324.82 15.12
13 Carpets And Other Textile Floor Coverings. 824.26 848.35 2.92
14 Plastic And Articles Thereof. 634.91 720.65 13.5
15 Miscellaneous Chemical Products. 506.57 685.52 35.32
16 Aluminium And Articles Thereof. 350.15 680.27 94.28
17 Aircraft, Spacecraft, And Parts Thereof. 606.94 634.97 4.62
18 Furniture; Bedding, Mattresses, Mattress Supports, Cushions And Similar Stuffed Furnishing; Lamps And Lighting Fittings Not Elsewhere Specified Or Inc 498.83 576.18 15.51
19 Lac; Gums, Resins And Other Vegetable Saps And Extracts. 417.05 531.55 27.45
20 Articles Of Leather,Saddlery And Harness;Travel Goods, Handbags And Similar Cont.Articles Of Animal Gut(Othr Thn Silk-Wrm)Gut. 470.69 503.02 6.87
21 Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; 442.62 461.97 4.37
22 Ships, Boats And Floating Structures. 2.42 443.69 18,234.94
23 Rubber And Articles Thereof. 348.73 416.95 19.56
24 Footwear, Gaiters And The Like; Parts Of Such Articles. 455.71 411.4 -9.72
25 Articles Of Stone, Plaster, Cement, Asbestos, Mica Or Similar Materials. 413.24 406.16 -1.72

Source Ministry of Commerce and Industry, India

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