India's rank remained unchanged at 19th in 2015, in the list of top 30 merchandise exporters of the world, as per a WTO report which has stated that China continues to hold the top position in the list it registered the highest merchandise trade by value in 2015 with $2,275 billion worth of exports. On the other side, India's ranking among top importers slipped by one notch to 13th in 2015, from 12th in previous year. In imports, the US topped the list.
The report further stated that, during last year India's rank remained unchanged at 8th among the top 30 leading exporters of commercial services. This list was topped by the US in both exports and imports. In imports, India positioned 10th. India's exports dipped by 17.2 per cent to $267 billion last year while imports aggregated at $392 billion. In 2015, India's commercial services exports aggregated at $158 billion while imports were $126 billion
The report also highlighted that the exports of developed and developing countries should grow at around the same rate in 2016, 2.9 percent in the former and 2.8 percent in the latter half. Meanwhile, imports of developed economies are expected to outpace those of developing countries in 2016, with a 3.3 per cent rise in the former compared to a 1.8 per cent increase in the latter.
Slowdown in the global demand hit India's exports in 2015 and this year too the shipments are in the negative zone, with exports dipping 5.66 percent in February to $20738.60 million, against $21983.43 million in February 2015. India's overall exports dipped by 17.2 per cent to $267 billion last year while imports aggregated at $392 billion.