In Financial year2016-17 India has Exported worth rs. 1,852,339.65 Crores and total Import was rs. 2,577,417.43 Crores. Thus India had a trade deficit of Rs. 725,077.78 Crores in financial year 2016-17.
India did have trade surplus with few countries it does business with like USA, UAE, Bangladesh, UK, Nepal, Hong Kong, Vietnam , turkey, SriLanka, Netherlands, Singapore, Kenya, Spain, Oman, Pakistan, Israel, Italy, Philippines, Egypt, Mauritius, Tanzania, Ethiopia.
India Had trade deficit with 87 countries. It was topped by China
- China – Rs. 342706.97 crore trade deficit
- Switzerland – Rs. 109061.98 crore trade deficit
- Saudi Arab – Rs. 99346.06 crore trade deficit
- Iraq – Rs.70991.96 crore trade deficit
- Indonesia – Rs. 66654.06 crore trade deficit
we also had trade deficit with Korea, Australia, Iran, Qatar, Japan, Nigeria, Venezuela, Germany, Malaysia, Russia, Kuwait, Angola, South Africa, Thailand, Ukraine, Canada, Argentina, Brazil, Ghana Belgium, Botswana, France to name a few.
Also read, India’s Export Import : Trade balance with World in FY 2016-17
Total Export in Financial Year 2016-17 : 1852339.65 Crores
Total Import in Financial Year 2016-17 : 2577417.43 Crores
Total Trade in Financial Year 2016-17 : 4420499.87 Crores
Trade deficit in Financial year 2016-17 : 725077.78 Crores
Also read, Top 50 countries with Trade surplus in FY 2016-17
Top 50 countries India had trade deficit in financial year 2016-17 are.
All figures are in Rs crores.
Period : Financial year 2016-17
| Rank | Country | Export | Import | Total Trade | Trade Balance |
| 1 | CHINA P RP | 68,417.53 | 411,124.50 | 479,542.03 | -342,706.97 |
| 2 | SWITZERLAND | 6,557.30 | 115,619.29 | 122,176.59 | -109,061.98 |
| 3 | SAUDI ARAB | 34,417.21 | 133,763.27 | 168,180.49 | -99,346.06 |
| 4 | IRAQ | 7,483.65 | 78,475.61 | 85,959.26 | -70,991.96 |
| 5 | INDONESIA | 23,490.18 | 90,144.25 | 113,634.43 | -66,654.06 |
| 6 | KOREA RP | 28,452.29 | 84,452.61 | 112,904.91 | -56,000.32 |
| 7 | AUSTRALIA | 19,886.34 | 74,864.43 | 94,750.77 | -54,978.09 |
| 8 | IRAN | 16,045.63 | 70,477.61 | 86,523.24 | -54,431.99 |
| 9 | QATAR | 5,281.09 | 51,222.26 | 56,503.35 | -45,941.17 |
| 10 | JAPAN | 25,852.37 | 65,424.97 | 91,277.34 | -39,572.60 |
| 11 | NIGERIA | 11,874.39 | 51,374.53 | 63,248.93 | -39,500.14 |
| 12 | VENEZUELA | 416.23 | 36,964.29 | 37,380.52 | -36,548.06 |
| 13 | UNSPECIFIED | 16,958.22 | 49,148.89 | 66,107.11 | -32,190.67 |
| 14 | GERMANY | 48,365.38 | 77,704.24 | 126,069.62 | -29,338.86 |
| 15 | MALAYSIA | 35,112.02 | 59,890.35 | 95,002.37 | -24,778.32 |
| 16 | RUSSIA | 12,950.96 | 37,180.34 | 50,131.30 | -24,229.37 |
| 17 | KUWAIT | 10,022.79 | 29,863.18 | 39,885.97 | -19,840.40 |
| 18 | ANGOLA | 1,041.51 | 17,406.17 | 18,447.68 | -16,364.66 |
| 19 | SOUTH AFRICA | 23,834.86 | 38,979.15 | 62,814.01 | -15,144.29 |
| 20 | THAILAND | 21,283.99 | 36,313.08 | 57,597.07 | -15,029.09 |
| 21 | UKRAINE | 2,083.30 | 16,656.92 | 18,740.22 | -14,573.63 |
| 22 | CANADA | 13,469.78 | 27,726.11 | 41,195.90 | -14,256.33 |
| 23 | ARGENTINA | 3,434.35 | 16,763.00 | 20,197.35 | -13,328.64 |
| 24 | BRAZIL | 16,150.06 | 27,652.62 | 43,802.67 | -11,502.56 |
| 25 | GHANA | 4,574.23 | 13,015.36 | 17,589.59 | -8,441.14 |
| 26 | BOTSWANA | 516.88 | 8,766.27 | 9,283.16 | -8,249.39 |
| 27 | BELGIUM | 37,994.14 | 44,395.64 | 82,389.78 | -6,401.50 |
| 28 | TAIWAN | 14,699.78 | 21,076.30 | 35,776.08 | -6,376.52 |
| 29 | EQUTL GUINEA | 75.34 | 5,352.56 | 5,427.89 | -5,277.22 |
| 30 | FRANCE | 33,041.92 | 38,263.84 | 71,305.76 | -5,221.92 |
| 31 | FINLAND | 1,828.78 | 6,791.93 | 8,620.71 | -4,963.15 |
| 32 | BRUNEI | 287.28 | 4,208.47 | 4,495.75 | -3,921.19 |
| 33 | CHILE | 4,534.58 | 8,229.21 | 12,763.79 | -3,694.63 |
| 34 | AUSTRIA | 2,581.44 | 6,084.98 | 8,666.42 | -3,503.54 |
| 35 | ZAMBIA | 1,591.65 | 4,991.02 | 6,582.66 | -3,399.37 |
| 36 | SWEDEN | 4,771.17 | 7,788.16 | 12,559.33 | -3,016.99 |
| 37 | DOMINIC REP | 1,511.81 | 4,514.77 | 6,026.58 | -3,002.97 |
| 38 | AZERBAIJAN | 271.09 | 3,104.95 | 3,376.04 | -2,833.86 |
| 39 | MOROCCO | 2,523.38 | 5,342.85 | 7,866.23 | -2,819.47 |
| 40 | KAZAKHSTAN | 812.47 | 3,473.77 | 4,286.24 | -2,661.30 |
| 41 | PERU | 4,685.92 | 7,227.12 | 11,913.04 | -2,541.19 |
| 42 | NORWAY | 1,648.66 | 3,816.46 | 5,465.11 | -2,167.80 |
| 43 | JORDAN | 3,513.62 | 5,556.11 | 9,069.73 | -2,042.49 |
| 44 | BAHAMAS | 39.82 | 1,727.65 | 1,767.47 | -1,687.83 |
| 45 | CAMEROON | 1,007.26 | 2,411.24 | 3,418.49 | -1,403.98 |
| 46 | NEW ZEALAND | 2,083.93 | 3,385.25 | 5,469.17 | -1,301.32 |
| 47 | GUINEA BISSAU | 145.2 | 1,442.65 | 1,587.85 | -1,297.45 |
| 48 | LAO PD RP | 172.21 | 1,390.72 | 1,562.93 | -1,218.50 |
| 49 | LITHUANIA | 644.96 | 1,819.25 | 2,464.21 | -1,174.29 |
| 50 | ECUADOR | 1,333.54 | 2,384.36 | 3,717.90 | -1,050.82 |
