India reported a trade deficit equivalent to 16266 Mn. USD in May of 2012.
Historically, from 1994 until 2012, India Balance of Trade averaged -3665.2
Million USD reaching an all time high of 491.3 Million USD in November of 2001
and a record low of -19644.0 Million USD in October of 2011.
India is leading
exporter of gems and jewelry, textiles, engineering goods, chemicals, leather
manufactures and services. India is poor in oil resources and is currently
heavily dependent on coal and foreign oil imports for its energy needs. Other
imported products are: machinery, gems, fertilizers and chemicals. Main trading
partners are European Union, The United States, China and UAE.
