New Delhi, April 14
INDIA does not figure on the world's 30 leading exporters' list of the World Trade Organisation (WTO) though the new entrant Poland as the world's 30th leading exporter earned $74.1 billion in 2004 and accounted for a share of 0.8 per cent in global trade.
According to the WTO preliminary international trade report released in Geneva today, India's exports amounted to $73 billion in 2004. While the country's average export growth was 7 per cent in 1995-2000, it went up to 14 per cent in 2002, 16 per cent in 2003 and to 27 per cent in 2004, though its exports suffered during 2001 when it was just 2 per cent.
India's import growth during 1995-2000 averaged 8 per cent and this went to 12 per cent in 2002, 26 per cent in 2003 and to 34 per cent in 2004, though it did skid to a negative 2 per cent in 2001.
However, as per the trade policy annual supplement released on April 8, the country's exports amounted to $80 billion in the fiscal year 2004-05 (April 2004 to March 2005).
An interesting point is that though India does not figure in the leading 30 exporters of the world, it is ranked 24th among the 30 leading importers in the world, a value of $95.2 billion and a share of one per cent in global imports. In contrast, China holds third rank among 30 leading exporters and importers with exports of $593.4 billion and imports of $561.4 billion in 2004. However, India can draw some comfort if intra-European Union (25 countries) is excluded. Then as per the WTO listing, India gets the 20th slot as the leading exporter and 16th slot in leading importer league.
But reflecting the rising share of services in India's gross domestic product and also in some important services sector abroad through exports, India occupies the 22nd slot in the export of commercial services at $32.2 billion and accounting for a share of 1.5 per cent in global services exports in 2004. Similarly in the import of services, India occupies the 15th slot as it imported $37.9 billion and accounted for a share of 1.8 per cent in global commercial services imports in 2004.
China holds ninth slot in the export of commercial services at $58.9 billion and eighth slot in the import of commercial services at $69.7 billion in 2004.