What does England export to India
India export trend
India is currently suffering severely from the corona virus. Over 22.6 million infections were reported in May 2021. The health system is heavily overloaded.
German exports to India
(Change compared to previous year in%)
Source: Federal Statistical Office
German exports at an intermediate high
German exports to India rose sharply in March 2021 by 42.7% compared to the previous year. For the first quarter of 2021 there is an increase of 7.2%. In 2020, German exports to India fell by a total of 10.6%. They are likely to increase significantly in the next few months, as the comparison values in April and May were reduced by over 50%. However, the current wave of infections is burdening the economy.
German imports from India increased by 5.0% in March 2021 compared to the previous year. For the first quarter the growth is 2.1%. In 2020 as a whole, they fell by 5.6%.
Economy is shrinking significantly
India's economic output fell by 23.9% in the first quarter of the new fiscal year (April to June 2020). A decline of 7% followed in the summer quarter. The corona crisis was thus much more severe than, for example, the OECD had expected in the spring.
In its latest global economic outlook from April 2021, the IMF estimates a decline in Indian economic output of 8.0%. An increase of 12.5% is expected for 2021. In particular, the data from the purchasing managers' index and the retail sector give cause for optimism. However, the country is currently struggling with high numbers of infections again.
Foreign trade is experiencing a major correction
Indian exports rose sharply in April 2021 by 197.0% compared to the previous year and by 16.0% compared to April 2019. The increase in imports was 166.0% compared to the previous year and 7.2% compared to April 2019. The trade deficit rose again.
The Indian trade in goods fell sharply in the past financial year (April 2020 to March 2021). Exports fell by 7.3% and imports by 18.0%. This reduced the deficit in the trade balance by 39% to USD 98.6 billion and at least reduced the imbalance in the current account.
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