What is the rank of India in global export?
Have you ever wondered why India is so much in talks and news these days . Well there is a reason behind it . As per the import export data India is a big eeconomy and have a lot more potential .
The country is also a major player in the trade world . It is also a very big exporter of products that many countries prefer to import from . If you are someone who wants to know what is the global export ranking of India then this post is for you
In this post we will look at the ranking of global export of India . Lets first understand the economy .
Economy status
The ranking of India for global export shows how stong economy of the country is and the relationship of import export of goods with many countries
The gross domestic product also has a good impact on and creates employment opportunities.
When India exports goods and services it also generates revenue that can be reinvested into various sectors of the economy . This improves growth and development .
The global import export data shows that India has become a big player in the global trade market exporting a wide range of products.
What is the rank of India in global export?
The last year import export data shows that India was the world’s 14th largest exporter.
Out of total exports India’s share in global exports was less than 2% for merchandise and less than 3% for imports
Some of the top products that India exports include engineering goods, iron and steel products, industrial machinery automobiles,refined petroleum diamonds.
The top country that India exports goods to is United States followed by China, United Arab Emirates, Hong Kong, and Bangladesh
India’s merchandise exports ranking among 15 developing countries fell from 8th in 2020 to 7th in 2018
The GDP per capita India was ranked 137th in the world
It is also important to note that rankings can changed because of different factors and time.
However the information provided gives an overview of India’s position in global exports.
The data also shows that India’s exports have been growing and have been developing
Key Export Categories
India’s exports a lot of products That are made for both developed and new markets. Some of the categories or areas that India export in:
Information Technology (IT) and Software Services: India is renowned for its software services and IT outsourcing services
Software, IT services and related services are some of India’s most valuable exports.
Pharmaceuticals: India is a major exporter of pharmaceutical products as they produce goods due to its pharmaceutical industry.
The country produces a a good amount of goods share of the world’s generic drugs and vaccines.
Textiles and Garments: Textile exports including clothing and fabrics are a traditional export of India’s export portfolio that is showing its rich cultural heritage..
Agriculture and Agro-based Products: India’s agricultural exports includes items like rice, spices, tea and fruit.
Automobile Components: India has also been making improvement in exporting automobile components and improving manufacturing
Conclusion
If you wish to learn more trade related information then visit Siomex which is the largest import export data provider .