Which country has highest trade deficit with India?

Which country has the highest trade deficit?

The United States has the largest trade deficit in the world. In 2018, the trade deficit of this nation was $621 billion. While the country brought in over $3 trillion in imports, the amount of exports was just $2.5 trillion.

Which countries does India have trade deficit with?

India records trade surpluses with the US, United Arab Emirates, Hong Kong, United Kingdom and Vietnam. India’s trade deficit was revised lower to USD 17.42 billion in January of 2022, compared to a preliminary estimate of USD 17.90 billion and a USD 14.49 billion a year earlier.

Which country trades most with India?

Total value of trade

In 2019, the pre-pandemic year, the US was India’s largest trading partner with total trade valued at $90.1 billion (share of 11.1 per cent), while China was at the second spot with total bilateral trade at $85.5 billion (share of 10.5 per cent).

Does US have trade deficit with India?

India’s exports to the US in 2020-21 were valued at $51.62 billion and imports at $28.88 billion, resulting in a trade deficit of about $23 billion for the US.

What is India’s current account deficit?

India’s current account balance recorded a deficit of US$ 9.6 billion (1.3 per cent of GDP) in Q2:2021-22 as against a surplus of US$ 6.6 billion (0.9 per cent of GDP) in Q1:2021-22 and US$ 15.3 billion (2.4 per cent of GDP) a year ago [i.e., Q2:2020-21].

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Who imports the most from India?

The largest share of India’s imports came from China, accounting for over 16 percent in fiscal year 2021.

Distribution of India’s imports in financial year 2021, by leading country or region of origin.

Characteristic Share of imports
China 16.53%
United States 7.32%
United Arab Emirates 6.75%
Switzerland 4.62%

What is India exporting the most?

These are India’s top 10 export commodities:

  • Gems and jewelry.
  • Organic and inorganic chemicals.
  • Drugs and pharmaceuticals.
  • Electronic goods.
  • Cotton yarn/fabrics/made-ups, handloom products etc.
  • Ready-made garments (RMG) of all textiles.
  • Marine products.
  • Plastic and linoleum.

What is the highest export from India?

List of exports 2012

# Product Value
1 Refined petroleum 52,905
2 Jewellery 17,814
3 Pharmaceuticals 10,886
4 Rice 6,109

Which country imports the most?

In 2020, the U.S. were the leading import country in the world with an import value of about 2.41 trillion US dollars. Import and export are generally important pillars of a country’s economy.