The latest data released by the think tank
Global Trade Research Initiative (GTRI) shows India's trade surplus to 151 countries comprised 55.8% of its exports and 16.5% of imports, value at total $72.1 billion.
The US and the Netherlands accounted for a trade surplus of $21 billion and 11.6 billion, respectively. In the trade deficit, India's goods and services exports stood at 44.4% and imports at 83.5%, a deficit of $185.4 billion. Of these, India had a trade deficit of over $1 billion each with 23 countries.
In terms of outlook, the GTRI report says the global trade outlook for 2024 is cautiously optimistic, with GDP growth expected around 3%, but challenges like inflation and protectionist measures may impact trade.
Global Trade Research Initiative (GTRI) is a research Group focused on Climate Change, technology and trade. GTRI aims to create high-quality and jargon-free outputs for governments and industry from the perspective of development and poverty reduction.