GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
LOK SABHA
UNSTARRED QUESTION NO: 4536
ANSWERED ON:19.12.2014
FOREIGN TRADE
ANANT KUMAR DATTATREYA HEGDE
(a) whether the foreign trade in the country has increased considerably during the last two decades;
(b) if so, the comparative value of export and import made from/to the country in the years 1990-91 and 2013-14;
(c) whether the gap between value of import and export has also increased with rise in volume of trade;
(d) if so, the details of this gap in the said years; and
(e) the name of the countries which have imported more from India than exported to India during the said years along with the value of import and export separately?
Will the Minister of COMMERCE AND INDUSTRYbe pleased to state:-
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(INDEPENDENT CHARGE)
(SMT. NIRMALA SITHARAMAN)
(a) to (d) The foreign trade (export+import) has increased from 42 billion US $, in 1990-91 to 765 billion US$ in the year 2013-14 with an annual average growth rate of 13.42% and has increased 18 folds during the period. The gap, between value of import and export, which is Trade deficit, has also increased during the said period. The trade deficit has increased from 6 billion US $ in 1990-91 to 136 billion US $ in 2013-14. Foreign trade i.e. exports and imports are influenced by a number of macroeconomic factors of the country and the world, like demand and supply, exchange rates, economic conditions of different countries.
(e ) Top 10 countries, which have imported more from India than exported to India during 2013- 14 are USA, Singapore, Bangladesh, Hong Kong, Netherlands, Sri Lanka, U.K., Kenya, Nepal, Vietnam etc. whereas during 1990-91 such countries were USSR, Hong Kong, Bangladesh, Thailand, Sri Lanka, Egypt, Mauritius, Spain, Afghanistan, Nigeria etc. The details of country wise Exports and Imports and quantity are available in the DGCI & S publication in CD form namely ‘Monthly Statistics of Foreign Trade of India’ Vol. I (Exports)