Chemical

Strategically located near highly populated trading partners including China, Pakistan and Bangladesh, the Republic of India shipped US$322.8 billion worth of goods around the globe in 2019. That dollar amount reflects a -0.4% reduction since 2015 but a 22.3% gain from 2018 to 2019.

Based on the average exchange rate for 2019, the Indian rupee has depreciated by -9.8% against the US dollar since 2015 and declined by -3% from 2018 to 2019. India’s weaker local currency makes Indian exports paid for in stronger US dollars relatively less expensive for international buyers.

The latest available country-specific data shows that 54.8% of products exported from India were bought by importers in: United States (16.8% of the global total), United Arab Emirates (9.2%), China (5.3%), Hong Kong (3.5%), Singapore (3.3%), United Kingdom (2.7%), Netherlands (2.7%), Germany (also 2.7%), Bangladesh (2.6%), Nepal (2.2%), Belgium (2%) and Malaysia (1.9%).

From a continental perspective, 47.8% of India’s exports by value were delivered to fellow Asian countries while 19.3% were sold to European importers. India shipped another 18.8% worth of goods to North America. Smaller percentages went to Africa (9.1%), Latin America excluding Mexico but including the Caribbean (3%), and Oceania led by Australia (1.1%).

Given India’s population of 1.352 billion people, its total $322.8 billion in 2019 exported products translates to $240 for every resident in the vast South Asian country.