Flag India

2019
Economic
Complexity
: 0.63, Rank 45 of 157

2019
Product
Exports | Imports
: $330B | $474B, 15 of 225 |  11 of 225

2019
Per Capita Product
Exports | Imports
: $241 | $347, 180 of 219 |  189 of 219

2018
Service
Exports | Imports
: $119B | $120B, 6 of 88 | 7 of 88

Overview: In 2019 India was the number 5 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 11 in total imports, the number 142 economy in terms of GDP per capita (current US$) and the number 45 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of India are Refined Petroleum ($39.2B), Diamonds ($22.5B), Packaged Medicaments ($15.8B), Jewellery ($14.1B), and Cars ($7.15B), exporting mostly to United States ($55.3B), United Arab Emirates ($28.6B), China ($17.4B), Hong Kong ($11.5B), and Singapore ($9.53B).

In 2019, India was the world's biggest exporter of Diamonds ($22.5B), Jewellery ($14.1B), Rice ($6.9B), Crustaceans ($4.67B), and Non-Retail Pure Cotton Yarn ($2.86B)

Imports: The top imports of India are Crude Petroleum ($92.7B), Gold ($33.8B), Coal Briquettes ($24.9B), Diamonds ($21.4B), and Petroleum Gas ($16.4B), importing mostly from China ($72.6B), United States ($33.7B), United Arab Emirates ($26.8B), Saudi Arabia ($25.1B), and Iraq ($19.8B).

In 2019, India was the world's biggest importer of Coal Briquettes ($24.9B), Diamonds ($21.4B), Palm Oil ($4.85B), Nitrogenous Fertilizers ($2.71B), Soybean Oil ($2.39B)

Location: India borders Afghanistan, Bangladesh, Bhutan, Myanmar, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.

Yearly Exports

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Value
Depth

Top Export (2019): Refined Petroleum, $39.2B

Top Destination (2019): United States, $55.3B

In 2019, India exported a total of $330B, making it the number 15 exporter in the world. During the last five reported years the exports of India have changed by $9.73B from $320B in 2014 to $330B in 2019.

The most recent exports are led by Refined Petroleum ($39.2B), Diamonds ($22.5B), Packaged Medicaments ($15.8B), Jewellery ($14.1B), and Cars ($7.15B). The most common destination for the exports of India are United States ($55.3B), United Arab Emirates ($28.6B), China ($17.4B), Hong Kong ($11.5B), and Singapore ($9.53B).

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Yearly Imports

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Value
Depth

Top Import (2019): Crude Petroleum, $92.7B

Top Origin (2019): China, $72.6B

In 2019 India imported $474B, making it the number 11 trade destination in the world. During the last five reported years the imports of India changed by $35.3B from $439B in 2014 to $474B in 2019.

The most recent imports of India are led by Crude Petroleum ($92.7B), Gold ($33.8B), Coal Briquettes ($24.9B), Diamonds ($21.4B), and Petroleum Gas ($16.4B). The most common import partners for India are China ($72.6B), United States ($33.7B), United Arab Emirates ($26.8B), Saudi Arabia ($25.1B), and Iraq ($19.8B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

India Exports Services (2018): $119B

India Imports Services (2018): $120B

In 2018, India exported $119B worth of services. The top services exported by India in 2018 were Miscellaneous business, professional, and technical services ($34.9B), Personal travel ($26B), Other government services ($19B), Sea transport ($12.7B), and Air transport ($5.76B).

The top services imported by India in 2018 were Miscellaneous business, professional, and technical services ($38.4B), Other government services ($16.3B), Personal travel ($15.2B), Sea transport ($10.1B), and Air transport ($9.5B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for India are Alcoholic liqueurs nes (150%) and Fermented beverages nes (eg cider, perry, mead, etc) (150%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for India are:
59: ASEAN India Free Trade Area (ASEAN) Association of Southeast Asian Nations
127: India-MERCOSUR Preferential Trade Agreement
136: Most Favoured Nation duty rate treatement
153: Preferential tafiff for Malaysia
159: Preferential tariff for Afghanistan
168: Preferential tariff for Bangladesh
182: Preferential tariff for Chile
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
254: Preferential tariff for Least Developed Countries
268: Preferential tariff for Mauritius, Republic of Seychelles and Kingdom of Tonga
276: Preferential tariff for Nepal
290: Preferential tariff for Philippines
299: Preferential tariff for Singapore
304: Preferential tariff for Sri Lanka
309: Preferential tariff for Thailand
336: Preferential tariff under (GSTP) Global System of Trade Preferences among Developing Countries
343: Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement)
366: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA)
367: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA) for The least developed nations in South Asia
368: South Asian Association for Regional Cooperation (SAARC) The South Asian Free Trade Area (SAFTA)
369: South Asian Association for Regional Cooperation (SAARC) The South Asian Free Trade Area (SAFTA) for The least developed

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years India's⁩ ⁨economy has become relatively mÑs complex, moving from the ⁩⁨61st to the 45th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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India has a high level of specialization in Spice Seeds (27.6), Other Organic Compounds (25.7), Processed Hair (25.3), Granite (24.2), and Coconut and Other Vegetable Fibers (21). Specialization is measured using RCA, an index that takes the ratio between India observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of India according to the product complexity index (PCI) are Esters of inorganic acids nes, salts, derivatives (1.83), Bar or rod of stainless steel, hot rolled, coiled (1.78), Hand-operated spanners, wrenches and sockets (1.7), Ion exchangers based on polymers in primary forms (1.62), and Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.6). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for India according to the relatedness index, are Chromium Ore (0.41), Fake Hair (0.39), Niobium, Tantalum, Vanadium and Zirconium Ore (0.39), Animal Hair (0.39), and Non-Knit Gloves (0.39). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that India is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.