Team Blitz India
NEW DELHI: India’s world merchandise export is expected to grow by 2.6 % in 2024, according to the World Trade Organisation’s (WTO) Global Trade Outlook and Statistics report. The report has projected that the world merchandise trade volume will grow by 2.6 per cent in 2024 and the growth will continue at 3.3 per cent in 2025.
India’s country rank improved from 18 in 2022 to 17 in 2023. India is ranked 8th in imports, holding a 2.8 per cent share, with the value at $673 billion, marking a 7 per cent decline from the previous year. India’s country rank improved from 9 in 2022 to 8 in 2023.
In the area of commercial services trade, India is ranked 7th globally in exports, capturing a 4.4 per cent share of the global market at $ 344 billion, which is an 11 per cent increase over 2022. India’s country rank remained the same as in 2022.
Imports of commercial services ranked 9th globally, capturing a 3.4 per cent share of the global imports at $247 billion, with country rank decreasing from 8 in 2022 to 9 in 2023.
