Fore Trade
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INDIA’S INTERNATIONAL TRADE AN OVERVIEW
JULY 2006
India’s Foreign Trade – Trends EXIM BANK
Towards Increased Global Integration through Trade 160
245.2
Exports
India’s Trade Turnover increased 250
Imports Total Trade (Right Axis)
120 112 142.0 80
114.1 95.2 44
40
53
142
195.1
200 103
84
FY06 (CAGR of 26%) India’s Exports increased from
150
64 78 100
61
from $95 bn in FY02 to $245 bn in
$44 bn in FY02 to $103 bn in FY06 (CAGR of 23%) India’s Imports increased from
51 50
$51 bn to $142 bn (CAGR of 29%) 0
0 FY 2002
FY 2003
FY 2004
FY 2005
FY 2006
Share
in
world
merchandise
exports in 2005 – 0.9%
US$ bn
Source: MOCI, Govt. of India 2
India’s Overseas Investment EXIM BANK
An increasing trend… both in terms of approvals & actuals US$ mn
1554
2804
Indian overseas direct investments
2004-05
(ODI) have shown a rising trend –
1492 1451
2003-04
both in terms of approvals as also in 1795
2002-03
terms of actual outflows.
1545 2996
982
Approved ODI increased from US$
2001-02 1212 1380
2000-01
557 mn in FY 1997 to US$ 2800 mn in
319 1999-00 1998-99
1757
Actual outflows shot up by more
143 250
than seven times from US$ 205 mn
121 1997-98
626
to US$ 1554 mn during the same
205 1996-97
FY 2005.
557
Approved
Source: MoF, Govt. of India
Actual outflows
period. 3
Direction of Trade (FY2006) EXIM BANK
India’s Major Export Markets (US$ bn) 17.2
USA 8.6
UAE 6.7
China
5.6
Singapore
5.1
UK
4.5
Hong Kong Germany Belgium
3.5 2.9
India’s Major Import Sources (US$ bn)
7.8
USA 6.5
Switzerland 5.8
Germany 4.9
Australia
4.7
Belgium South Korea
4.3
UAE
4.3
Italy
2.5
UK
Japan
2.4
Japan
India's Total Exports: US$ 103 bn
10.7
China
3.9 3.6
India's Total Imports: US$ 142 bn
USA – India’s largest trading partner; but Asian countries gaining significance China – increasingly becoming an important partner (has become the largest source of imports) 4
India’s Export: Shifting Southwards EXIM BANK
India’s Export Markets (FY1999 - $33 bn) South America 2%
North America 23%
CIS & CEE 2%
India’s Export Markets (FY2006 - $103 bn) South America 3%
West Europe 29%
ca Afri
North America 18%
Africa 6%
Asia and Oceania 38%
West Europe 24%
CIS & CEE 1%
7%
Asia and Oceania 47%
Direction of exports moving towards the Southern countries, particularly Asia. Share of Asia & Oceania increased from 38% to 47%. Future trade flows to be geared towards the developing nations (buttressed by GOI policies). 5
Major Export Items EXIM BANK
Top 10 Export Items (FY 2006, US$ bn) 15.5
Gems & Jewellery
11.5
Petroleum products
6.3
RMG Cotton & accessories
4.9
Drugs & pharmaceuticals
4.8
Machinery & instruments
4.6
Transport equipments
4.2
Manufactures of metals
3.9
Cotton yarn & fabrics
3.8
Iron ore Pri. & semi-fin. iron & steel
3.0
Total Exports (FY 2006) : US$ 102.7 bn Source: DGCIS, MOCI 6
Major Import Items EXIM BANK
Top 10 Import Items (FY 2006, US$ bn) 35.0
Petro crude & prdts
13.2
Electronic goods
10.7
Gold
9.9
Non-elec machinery
9.1
Pearls, prec. stones
4.7
Organic chemicals
4.2
Iron & steel Metallifer ores & scrap
3.8
Coal & coke
3.7
Transport equipments
3.1
Total Imports (FY 2006) : US$ 142.4 bn
Source: DGCIS, MOCI 7
India’s Services Exports EXIM BANK
Services trade balance in surplus (US$ bn) 60.6 Exports 51.3
Imports
36.7
38.3
2004-05
2005-06
25.0 20.8 16.3 14.6
2000-01
17.1
17.1
18.4
2002-03
2003-04
13.8
2001-02
Source: RBI 8
Trend in IT & ITES Exports EXIM BANK
Exports contribute 63% to Indian IT & ITES Sector 40.0
Production
Exports
IT & ITES Exports: Regional Distribution
7.4%
36.0
35.0
1.2%
22.6% 28.2
30.0
23.4
25.0 21.5 20.0
0.6% US
17.9
68.2% Africa
Europe
Asia & Oceania
Others
16.1 15.0 10.0
12.1
13.4
13.3
8.2 6.2
0.0 FY '00
US$ bn
IT & ITES exports rose from $4.0 bn in FY 2000 to $17.9 bn in FY 2005.
Projected – US$ 60 bn by 2010.
USA – largest destination of India’s IT exports with a share of 68%.
Other countries gaining importance.
7.6 4.0
5.0
9.9
FY '01
FY '02
FY '03
FY '04
FY '05
FY '06*
Source: NASSCOM
9
EXIM BANK
THANK YOU www.eximbankindia.in
JULY 2006
India’s Foreign Trade – Trends EXIM BANK
Towards Increased Global Integration through Trade 160
245.2
Exports
India’s Trade Turnover increased 250
Imports Total Trade (Right Axis)
120 112 142.0 80
114.1 95.2 44
40
53
142
195.1
200 103
84
FY06 (CAGR of 26%) India’s Exports increased from
150
64 78 100
61
from $95 bn in FY02 to $245 bn in
$44 bn in FY02 to $103 bn in FY06 (CAGR of 23%) India’s Imports increased from
51 50
$51 bn to $142 bn (CAGR of 29%) 0
0 FY 2002
FY 2003
FY 2004
FY 2005
FY 2006
Share
in
world
merchandise
exports in 2005 – 0.9%
US$ bn
Source: MOCI, Govt. of India 2
India’s Overseas Investment EXIM BANK
An increasing trend… both in terms of approvals & actuals US$ mn
1554
2804
Indian overseas direct investments
2004-05
(ODI) have shown a rising trend –
1492 1451
2003-04
both in terms of approvals as also in 1795
2002-03
terms of actual outflows.
1545 2996
982
Approved ODI increased from US$
2001-02 1212 1380
2000-01
557 mn in FY 1997 to US$ 2800 mn in
319 1999-00 1998-99
1757
Actual outflows shot up by more
143 250
than seven times from US$ 205 mn
121 1997-98
626
to US$ 1554 mn during the same
205 1996-97
FY 2005.
557
Approved
Source: MoF, Govt. of India
Actual outflows
period. 3
Direction of Trade (FY2006) EXIM BANK
India’s Major Export Markets (US$ bn) 17.2
USA 8.6
UAE 6.7
China
5.6
Singapore
5.1
UK
4.5
Hong Kong Germany Belgium
3.5 2.9
India’s Major Import Sources (US$ bn)
7.8
USA 6.5
Switzerland 5.8
Germany 4.9
Australia
4.7
Belgium South Korea
4.3
UAE
4.3
Italy
2.5
UK
Japan
2.4
Japan
India's Total Exports: US$ 103 bn
10.7
China
3.9 3.6
India's Total Imports: US$ 142 bn
USA – India’s largest trading partner; but Asian countries gaining significance China – increasingly becoming an important partner (has become the largest source of imports) 4
India’s Export: Shifting Southwards EXIM BANK
India’s Export Markets (FY1999 - $33 bn) South America 2%
North America 23%
CIS & CEE 2%
India’s Export Markets (FY2006 - $103 bn) South America 3%
West Europe 29%
ca Afri
North America 18%
Africa 6%
Asia and Oceania 38%
West Europe 24%
CIS & CEE 1%
7%
Asia and Oceania 47%
Direction of exports moving towards the Southern countries, particularly Asia. Share of Asia & Oceania increased from 38% to 47%. Future trade flows to be geared towards the developing nations (buttressed by GOI policies). 5
Major Export Items EXIM BANK
Top 10 Export Items (FY 2006, US$ bn) 15.5
Gems & Jewellery
11.5
Petroleum products
6.3
RMG Cotton & accessories
4.9
Drugs & pharmaceuticals
4.8
Machinery & instruments
4.6
Transport equipments
4.2
Manufactures of metals
3.9
Cotton yarn & fabrics
3.8
Iron ore Pri. & semi-fin. iron & steel
3.0
Total Exports (FY 2006) : US$ 102.7 bn Source: DGCIS, MOCI 6
Major Import Items EXIM BANK
Top 10 Import Items (FY 2006, US$ bn) 35.0
Petro crude & prdts
13.2
Electronic goods
10.7
Gold
9.9
Non-elec machinery
9.1
Pearls, prec. stones
4.7
Organic chemicals
4.2
Iron & steel Metallifer ores & scrap
3.8
Coal & coke
3.7
Transport equipments
3.1
Total Imports (FY 2006) : US$ 142.4 bn
Source: DGCIS, MOCI 7
India’s Services Exports EXIM BANK
Services trade balance in surplus (US$ bn) 60.6 Exports 51.3
Imports
36.7
38.3
2004-05
2005-06
25.0 20.8 16.3 14.6
2000-01
17.1
17.1
18.4
2002-03
2003-04
13.8
2001-02
Source: RBI 8
Trend in IT & ITES Exports EXIM BANK
Exports contribute 63% to Indian IT & ITES Sector 40.0
Production
Exports
IT & ITES Exports: Regional Distribution
7.4%
36.0
35.0
1.2%
22.6% 28.2
30.0
23.4
25.0 21.5 20.0
0.6% US
17.9
68.2% Africa
Europe
Asia & Oceania
Others
16.1 15.0 10.0
12.1
13.4
13.3
8.2 6.2
0.0 FY '00
US$ bn
IT & ITES exports rose from $4.0 bn in FY 2000 to $17.9 bn in FY 2005.
Projected – US$ 60 bn by 2010.
USA – largest destination of India’s IT exports with a share of 68%.
Other countries gaining importance.
7.6 4.0
5.0
9.9
FY '01
FY '02
FY '03
FY '04
FY '05
FY '06*
Source: NASSCOM
9
EXIM BANK
THANK YOU www.eximbankindia.in
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