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Indo-US Trade Trends, 2014

Trade with India : 2014
 
NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified.
 
Month
US Exports to India
US Imports from India
Balance of Trade
January 2014

1, 582.4

3,675.4

-2,093.0

February 2014

1, 366.9

3, 043.0

-1, 676.1

      March 2014

       1, 714.2

   3, 882.2

     -2,168.0

 
     April 2014
 
      1, 401.1
    4, 457.9
     -3,056.8
 
May 2014
 
      1, 736.80
             4, 102.30
      -2,365.50

June 2014

      1, 907.5

   3, 231.7

       -1, 324.3

       July 2014

      1, 855.9

             3, 918.3      -2, 062.4

   August 2014

      1, 920.1

             3, 859.7       -1, 939.6

     September 2014

        1,924.2

     4,016.1

        -2,092.0
      October 2014
 
       2, 030.7
 
    4, 229.7
       -2, 199.0
 
November 2014
 
       2, 224.0
                 3, 345.8
        -1, 121.8

  December 2014

       1, 963.6                  3, 466.0          -1, 502.4

Total 2014

21, 627.6

45, 226.2
 -23, 600.6
 
India – US Trade
 
Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and U.S. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 63.7 billion in 2013 representing an impressive 1037.5% growth in a span of 23 years.
 
India's merchandise exports to the U.S. grew by 6.8% from $ 35.97 billion during the period January-October 2013 to $ 38.42 billion during the period January-October 2014. US exports of merchandise to India fell by 5.36% from $ 18.43 billion during the period January-October 2013 to $ 17.44 billion during the period January-October 2014. India - U.S. bilateral merchandise trade during the period January - October 2014, is $ 55.86 billion.
 
Trade during the year the period January - October 2014
 
i) Major items of export from India to US 

Select major items with their percentage shares, are given below.
 
a) Textiles (15.7%) 
b) Precious stones & metals (20.9%) 
c) Mineral Fuel, Oil (10.9%) 
d) Pharmaceutical products (10.8%) 
e) Organic chemicals (4.9%) 
f) Machinery (4.9%) 
g) Electrical Machinery (3%) 
h) Lac, Gum, Resins (2.9%) 

ii) Major items of export from US to India  

Select major items with their percentage shares, are given below
 
a) Precious stones & metals (24.4%) 
b) Aircraft, spacecraft, Parts (12%) 
c) Machinery (9.8%) 
d) Electrical machinery (6.5%) 
e) Mineral Fuel, Oil etc (6.3%) 
f) Optical instruments & equipment (6%) 
h) Organic chemicals (3.4%) 
g) Plastic Products (3.2%) 
 
India’s exports to US
  • Cut and polished diamonds and jewelry exports amounted to $ 8045 million as compared to $ 8030 million during the period January-October 2013 which is an increase of 0.18%.
  • Mineral Fuel oil exports grew by 17.6% to $ 4200 million from $ 3572 million.
  • Pharmaceutical products exports increased by 11.2% to reach $ 4154 million, from $ 3737 million.
  • Organic Chemicals exports grew by 2.4% accounting for $ 1896 million compared to $ 1851 million.
  • Machinery exports increased by 19.1% from $ 1585 million to $ 1889 million.
  • Miscellaneous Textile articles grew by 3.8% from $ 1756 million to $ 1824 million.
  • Woven apparel exports increased by 3.6% from $ 1637 million to $ 1696 million.
  • Exports of Knitted apparel exports increased by 9.6% to $ 1289 million from $ 1176 million.
  • Electrical Machinery exports grew by 4.8% from $ 1081 million to $ 1133 million.
  • Lac, Gums, resins exports fell by 32.8% to $ 1100 million from $ 1636
US exports to India
  • Cut and polished diamonds and jewelry exports amounted to $ 4251 million as compared to $ 5164 million during the period January-October 2013 which is a decline of 17.7%.
  • Aircraft and parts exports fell by 5% to $ 2098 million from $ 2209 million.
  • Machinery exports fell by 12% from $ 1937 million to $ 1704 million.
  • Electrical Machinery exports grew by 2.5% to $ 1135 million from $ 1107 million.
  • Mineral Fuel, oil grew by 3.6% to $ 1099 million from $ 1061 million.
  • Optical & Medical Instruments exports fell by 2.4%, accounting for $ 1047 million from $ 1072 million.
  • Organic Chemicals exports fell by 15.8% from $ 696 million to $ 586 million.
  • Exports of Plastic Products decreased by 1.8% from $ 571 million to $ 561 million.
  • Wood Pulp and Boards exports grew by 52.1% to $ 522 million from $ 343 million.
  • Edible fruits and nuts grew by 25% to $ 481 million from $ 385 million.
During the year 2007, the basket of US imports to India included exceptionally large imports of aircraft /parts, which resulted in a leap in the growth rate of US exports to 54.7%. With this component excluded, the growth rates of US exports in 2007 and 2008 were 37.5% and 39.9% respectively. 

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