Question

Discuss the trend of India's Foreign trade from 2001 to 2010.​

Answer 1

Exports, Imports and Trade Balance of India during 2000-2012

During 2000-12, exports of India rose by average annual growth rate of 19.89% from Rs. 203571 crore in 2000-01 to Rs. 1166439 crore in 2012-13 and imports also saw a sharp growth, it rose by average annual growth rate of 22.08% from 230873 crore in 2000-01 to 1967522 crore in 2012-13.

The last decade witnessed consistent steep growth in export and import until 2009-10, in 2009-10 exports only grew by 0.6% from 2008-09, while imports declined by 0.8% percent from 2008-09. In 2010-11, India bounced back with exports registering an increase of 35.2 percent to touch Rs. 1142922 crore and imports rising by 23.5 percent to Rs. 1683467 crore in 2010-11. In 2010-11 India crossed Rs. 10 thousand Billion mark for the first time in its export history.

The financial year 2012-13 registered a yoy growth of 9.4% percent in exports and a yoy growth of 14.8% percent in imports.

India recorded a trade balance of Rs. -801083 crore in 2012-13. Trade Balance in India averaged Rs. -338400 crore from 2000-2001 until Dec,2012.