India

India ranked No. 12 in total trade value through July with a total of $41.72 billion. Exports totaled $14.97 billion and Imports totaled $26.75 billion, a deficit of $11.77 billion.

U.S. trade with India rose to $41.72 billion through July

India’s trade with the United States rose to $41.72 billion through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 24.57 percent below its total trade during the same time period last year. U.S. exports to India decreased 28.3 percent while U.S. imports from India fell 22.31 percent. The U.S. deficit with India was $11.77 billion.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 John F. Kennedy International Airport; No. 3 Port of Savannah, Ga.; No. 4 Port of Houston; and No. 5 Port of Virginia. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 John F. Kennedy International Airport; No. 3 Los Angeles International Airport; No. 4 Port of Houston and No. 5 Port of Savannah, Ga.. In the current time period, the top five accounted for 47.34 percent of India’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark fell 21.06 percent to $6.39 billion.
    Exports fell 43.52 percent to $216.93 million. Imports fell 19.94 percent to $6.17 billion.
  • Trade with No. 2 John F. Kennedy International Airport fell 16.18 percent to $5.56 billion.
    Exports rose 12.92 percent to $2.01 billion. Imports fell 26.81 percent to $3.56 billion.
  • Trade with No. 3 Port of Savannah, Ga. fell 10.63 percent to $2.92 billion.
    Exports fell 35.08 percent to $437.84 million. Imports fell 4.28 percent to $2.48 billion.
  • Trade with No. 4 Port of Houston fell 37.72 percent to $2.61 billion.
    Exports fell 39.69 percent to $1.32 billion. Imports fell 35.55 percent to $1.29 billion.
  • Trade with No. 5 Port of Virginia fell 22.42 percent to $2.27 billion.
    Exports fell 27.59 percent to $462.98 million. Imports fell 20.98 percent to $1.81 billion.

India ranked No. 12 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 9.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to India by value through July were the categories of Oil; Diamonds, not mounted; Civilian aircraft, parts; Coal, briquettes; and LNG, other petroleum gases, respectively. They accounted for 38.93 percent of total exports to India.

The value of the top five categories of U.S. imports from India –– Medicines in individual dosages; Diamonds, not mounted; Gasoline, other fuels; Shrimp, other crustaceans; and Linens for bed, bath and kitchen –– accounted for 37.85 percent of all inbound shipments.

Looking more closely at U.S. exports to India:

  • Oil fell 35.83 percent compared to last year to $2.22 billion.
  • Diamonds, not mounted fell 40.84 percent compared to last year to $1.67 billion.
  • Civilian aircraft, parts rose 17.49 percent compared to last year to $887.8 million.
  • Coal, briquettes fell 34.14 percent compared to last year to $561.24 million.
  • LNG, other petroleum gases rose 24.1 percent compared to last year to $487.7 million.

Looking more closely at U.S. imports from India:

  • Medicines in individual dosages rose 1.4 percent compared to last year to $4.53 billion.
  • Diamonds, not mounted fell 46.95 percent compared to last year to $2.66 billion.
  • Gasoline, other fuels fell 54.24 percent compared to last year to $1.13 billion.
  • Shrimp, other crustaceans fell 4.64 percent compared to last year to $982.53 million.
  • Linens for bed, bath and kitchen fell 23.6 percent compared to last year to $817.73 million.

In the latest annual figures available, India recorded $92.08 billion in trade with the United States. Total U.S. exports to India were $ 34.41 billion and imports from India were $57.67 billion. The U.S. deficit with India was $23.26 billion.