India is a large country in South Asia. India shares its border with seven countries:- Afghanistan, Pakistan, Bangladesh, Nepal, China, Bhutan, and Sri Lanka. Presently India is a middle-income developing market economy. It has the fifth-largest economy in terms of GDP. For several years after independence, India had a protected economy. In the 1990s the government reduced control on imports and foreign investments. The economy improved after liberalization. According to India import data, the import of goods and services in India is 23.64% of India’s GDP. The India export data shows that total exports are 19.74% of the GDP.
Import export data is invaluable to any trader wanting to import or export commodities in India. The traders can use the data to monitor their competitors, find out more about emerging markets. They can use the databases to monitor trends and make a comprehensive business plan.
India import data shows that the import of commodities in January 2021 was 41.99 billion USD. The data shows the total imports for financial 2020-21 till January 2021 was 300.26 billion USD. The data shows the imports have tumbled by 25.94% from the previous financial year. The highest imports in 2020 were recorded in December (42.59%) and the lowest imports in the year were recorded in May.
The import data India shows the top imported commodities are:-
- Mineral oil
- Gems and precious metals
- Electrical equipment
- Mechanical equipment
- Organic chemicals
The import data India shows the import of gems and precious metals increased from the previous financial year. Import of the following commodities decreased:- oil, transport equipment, and fertilizer. The import data India shows that approximately 60.9% of India’s imports are from Asia while 15.9% of the imports were from Europe.
India Export data shows that India exported in the financial year 2020-21 (April 2020- January 2021) were 228.25 billion USD. India exported 27.45 billion USD in January and 27.67 billion USD in February 2021. According to India export data, India top exports are:-
- Mineral oil
- Vehicles and accessories
- Nuclear reactor
- Pharmaceuticals
- Organic chemicals.