Import Export Data India helps us calculate the balance of trade for India. Balance of trade can be broadly be defined as the difference between the import and export of a country. A trade deficit in balance of trade happens when the amount spent on imports are greater than the amount earned through exports.

1. Import Export Data India- The Balance of Trade
Import is the goods that a country buys from a country or a group of countries (like the
OPEC) in exchange for a commonly accepted currency. Mostly the commonly accepted
currency is the US Dollar or the Euro. Many countries have an adverse view of imports
as they drain the economy of the foreign currency which maybe very precious to the
company.
Exports are the products which a country sends to other countries in exchange of a
commonly accepted currency like the US Dollar or the Euro. Mostly the products
exported are those which the exporting country has in excess or which the exporting
country has a monopoly of production like Darjeeling tea and Assam Tea for India.
Import export data India us about the amount of imports and exports of India.
Balance Of Trade for India:
Import Export Data India helps us calculate the balance of trade for India. Balance of
trade can be broadly be defined as the difference between the import and export of a
country. A trade deficit in balance of trade happens when the amount spent on imports
are greater than the amount earned through exports. A trade surplus is a situation
where the amount earned through exports outweighs the amount spent on imports.
India currently has a trade deficit in Balance of trade, some key reasons for this deficit
are:
•
Large quantity of petroleum has to be imported to meet local demand, of both
the automobile and the industrial sector.
•
Large amount of foreign currency is spent on the import of animal and plant oils
and related articles. India has a huge domestic demand but very little domestic
production or cultivation.
•
Import export data India also tells us that an emerging sector draining the
economy of foreign currency is the power generation sector. The large amount of
power projects in the country forces the government to import a large amount of
power generation hardware and software.
Look into the future:
Import Export Data India also tells us that all is not lost for the country when it comes
to foreign currency reserves. India does make significant foreign currency income by
the export of a number of products which are listed below:
•
Tea. Assam tea and Darjeeling tea are two types of tea that only India has the
right to manufacture. Large foreign demand brings in a large quantity of foreign
exchange.

2. •
Fabrics. Indian fabrics like cotton, nylon and silk have large demand in the
European Union, countries along the gulf of Arabia and in the Indian
subcontinent which also brings in a large amount of foreign currency.
The Indian balance of trade is poised to become trade surplus within the current decade
on the back of robust international demand for Indian products.
To know more details about import export data, Indian import data, Indian export
data, Indian custom data, or any other types of import/export data and international
trade data as well, you can check at www.seair.co.in
Summary – These data are really helpful for any kind work related to finance and also
helps to prepare the balance sheet.