India’s total exports were 323,250,726.42 in thousands of US dollars, while total imports were 478,883,729.11 in thousands of US dollars, resulting in a negative trade balance of -155,633,002.69 in…
India’s total exports were 323,250,726.42 in thousands of US dollars, while total imports were 478,883,729.11 in thousands of US dollars, resulting in a negative trade balance of -155,633,002.69 in thousands of US dollars
. The Effectively Applied Tariff Weighted Average (customs duty) for India is 6.59 percent, whereas the MFN Weighted Average tariff is 8.77 percent. Trade growth is 0.71 percent, whereas global growth is -1.13 percent. In current US dollars, India’s GDP is $2,870,504,096,717.48. The value of India’s services export is 214,761,539,670.90 in Bop, current US dollars, while the value of India’s services import is 130,535,200,230.31 in BoP, current US dollars. India’s exports of goods and services as a proportion of GDP are 18.43 percent, while imports of goods and services are 20.96 percent.
India, the world’s 18th largest export economy, exported $292 billion in 2014 and imported $421 billion in goods, resulting in a $129 billion trade imbalance. India is the world’s second-most populous country, with a large labor pool, and efficient government reforms have helped to reshape the global economy. For decades, India’s economy has risen at an average yearly pace of 7%. Petroleum, agricultural products, precious stones and jewelry, and machinery are some of India’s most important commercial commodities.