The British are infatuated with Indian goods. These statistics prove it. The United Kingdom i.e. the UK has become India’s fourth largest export market in May. It has left behind China in this matter. Last year, the UK was ranked sixth. Exports to the UK rose by a third to $1.37 billion in May, while exports to China were only $1.33 billion, despite a 3 percent increase last month.
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What goods did the UK order?
Separate data for May was not immediately available, but trends over the past few months show that the UK imports goods such as machinery, food, medicines, textiles, jewellery, iron and steel from India.
According to Commerce Department data, India’s top-10 major export markets saw good growth in May, while exports to some of these countries have been stagnant for more than a year. These countries accounted for 52 percent of India’s total exports in May. India’s trade imports rose 9.13 percent to $38 billion in May.
India exports the most to which country?
USA remained India’s largest export destination with a growth of 13 percent. This was followed by an increase of 19 percent in the United Arab Emirates (UAE). The Netherlands is India’s third largest export market. Exports here have reached 2.19 billion dollars with an increase of about 44 percent in May. Other countries include Saudi Arabia (8.46 percent), Singapore (4.64 percent), Bangladesh (13.47 percent), Germany (6.74 percent), France (36.94 percent).
India’s import market
Among the top-10 import markets, shipments to Saudi Arabia and Switzerland fell by 4.11 percent and 32.33 percent, respectively, in May. The remaining eight saw growth in May, corresponding to total trade imports, which rose 7.7 percent to $61.91 billion.