Trade Deficit Analysis for Apr- May 2016. All figure are in INR Crores.
India’s uttermost trade happens wit 5 countries in world naming China, United states of America, United Arab Emirate, Saudi Arab and Hon kong. 36% of India’s total trade Happens with these 5 countries. India’s 39% export goes to these countries however 34% of Imports happens from here.
China : India’s export to China is INR 9455 crore while Import is whopping 54502 crode. Thus Trade deficit is INR 45046 Crore. It is highly in favor of china. China has started working on policy of Make in China 20 years back, and production and economy of scale has enable china to have tide in its favor.
United Sates of America : India’s Export to USA is INR 45501 Crores while import is 18223 Crores. Good news here is , India have trade surplus with USA and this is to the tune of INR 27278 crores !
Unites Arab Emirate : India’s Export to UAE is INR 37313 crores while Import is INR 22033 crores. India have trade surplus too with UAE also. This trade surplus is mainly attributed to lower fuel price. Fuel prices are trading less than 50% what they used to be in 2014. It helped developing countries like India to cut Import bill and save precious green dollars.
Saudi Arab : India’s Export to Saudi Arab is INR 6023 Crores while Import is INR 20048 crores. India Have a whopping trade deficit of Rs. 14015 Crores with this middle east country. This trade deficit is mainly attributed to Non-renewable fuel as India imports major chunk of fuel from this country.
Hong Kong : India’s Export to Honk Kong is INR 13539 Crores, while Import is only INR 8779 Crores. India has trade surplus with nation too and trade surplus is to the tune of Rs. 4760 Crores.
However putting all these 5 countries together India has trade deficit of INR 11753 crores in first two months only.
