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Economy, Foreign Trade

Major imports, import trade, major exports, economic reforms, marine products

India experienced fluctuation in its foreign trade in the 1990s. In 1990-1991, during the economic crisis that helped to trigger the 1991 economic reforms, India recorded $27.9 billion in imports and $18.5 billion in exports. After the reforms, India’s foreign trade improved. In 2000 India had $50.5 billion in imports and $42.3 billion in exports. Asia, including the Middle East, accounted in the mid-1990s for 41 percent of India’s export trade and 44 percent of its import trade. Western Europe accounted for 29 percent of exports and 34 percent of imports, and North America (almost entirely the United States, which is India’s largest trading partner), 20 percent of exports and 14 percent of imports. Major imports in the mid-1990s included petroleum, machinery, gems, chemicals, iron and steel, and fertilizers. Other major imports included newsprint, cooking oil, coal, and medicinal and pharmaceutical products. Principal exports were gems and jewelry, engineering goods, textiles, chemicals, and agricultural products. Other major exports included ores and minerals, marine products, leather, handicrafts, and carpets. Electronics and computer software exports in 1994-1995 had more than doubled over 1992-1993 figures, reaching 1.7 percent of the total number of exports.



Article key phrases:

Major imports, import trade, major exports, economic reforms, marine products, newsprint, ores, economic crisis, handicrafts, cooking oil, gems, carpets, jewelry, Western Europe, agricultural products, textiles, coal, minerals, fertilizers, figures, leather, iron, pharmaceutical products, Electronics, North America, steel, machinery, chemicals, Middle East, Asia, United States

 
 

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