According to the World Trade Statistical Review 2023, (WTSR 2023) the annual flagship publication of the World Trade Organization (WTO) featuring key data on global trade in merchandise and commercial services, India is ranked 18th among the Leading exporters in world merchandise trade (2022).
- India is ranked 9th among the merchandise importers.
- China, the United States of America(USA), and Germany are the top 3 exporters in world merchandise trade 2022.
- USA, China and Germany are the top 3 importers in World Merchandise Trade 2022.
Note: WTSR replaces International Trade Statistics, the WTO’s former annual statistical publication.
Points to note:
i.India is ranked globally 7th among exporters and 9th among importers in world in commercial services 2022.
ii.Commercial services exports of India registered a very strong
206% increase.
Exporters in world merchandise trade, 2022
| Rank | Exporters | Value ( in USD Billion) | Share (%) |
|---|---|---|---|
| 1 | China | 3594 | 14.4 |
| 2 | USA | 2065 | 8.3 |
| 3 | Germany | 1655 | 6.6 |
| 18 | India | 453 | 1.8 |
| 50 | Iran | 73 | 0.3 |
Importers in world merchandise trade, 2022
| Rank | Importers | Value ( in USD Billion) | Share (%) |
|---|---|---|---|
| 1 | USA | 3376 | 13.2 |
| 2 | China | 2716 | 10.6 |
| 3 | Germany | 1571 | 6.1 |
| 9 | India | 723 | 2.8 |
| 50 | Colombia | 77 | 0.3 |
Exporters in world trade in commercial services, 2022
| Rank | Exporters | Value ( in USD Billion) | Share (%) |
|---|---|---|---|
| 1 | USA | 900 | 12.8 |
| 2 | United Kingdom(UK) | 492 | 7.0 |
| 3 | China | 422 | 6.0 |
| 7 | India | 309 | 4.4 |
| 40 | Saudi Arabia | 31 | 0.4 |
Importers in world trade in commercial services, 2022
| Rank | Importers | Value ( in USD Billion) | Share (%) |
|---|---|---|---|
| 1 | USA | 671 | 10.3 |
| 2 | China | 461 | 7.1 |
| 3 | Germany | 458 | 7.0 |
| 9 | India | 246 | 3.8 |
| 40 | Kuwait | 26 | 0.4 |
Highlights of the report:
Trade in goods and services:
Trade in goods and services amounted to US$ 31.0 trillion in 2022, a 13% rise year-on-year.
Leading merchandise trader:
China remained the top merchandise exporter in 2022 but its share in world exports declined to 14% (from 15% in 2021).
Manufactured goods:
The share of manufactured goods in world merchandise exports fell to 63% in 2022 (versus 68% in 2018) mainly due to high energy prices limiting demand.
Transport services:
Trade in transport services continued to grow in 2022 at a slower pace than in 2021 as shipping rates returned to pre-pandemic levels.
Intra-regional merchandise trade:
i.Intra-regional merchandise trade represented 65% of Europe’s world trade in 2022, the highest amongst the major world regions.
ii.The lowest was for Africa (14% in 2022, down from 16% in 2018).
Related information:
According to the latest WTO Goods Trade Barometer issued on March 1, 2023, World merchandise trade growth is likely to have lost momentum in the fourth quarter(Q4) of 2022 and it is
likely to remain weak in the first quarter(Q1) of 2023.
- The overall barometer index has declined to 92.2 (Index value December 2022), down from 96.2 in the previous release(November 2022).
About WTSR 2023:
i.The WTSR 2023 presents recent trends in international trade, technological challenges affecting the global economy and supply chains.
ii.Along with data on economic developments like Gross domestic product (GDP) growth, commodity prices, and exchange rate fluctuations, the data cover trade in goods and services broken down by geographical origin, main product groups and sectors.
iii.Analytical chapters highlighting trade trends in 2022 are complemented by statistical tables providing further details on merchandise trade and trade in commercial services.
About World Trade Organization (WTO):
Director-General- Ngozi Okonjo-Iweala
Headquarters- Geneva, Switzerland
Established- 1st January 1995
