U.S.-India Trade Facts
In 2019, India GDP was an estimated $2.9 trillion (current market exchange rates); real GDP was up by an estimated 4.2%; and the population was 1.4 billion. (Source: IMF)
U.S. goods and services trade with India totaled an estimated $146.1 billion in 2019. Exports were $58.6 billion; imports were $87.4 billion. The U.S. goods and services trade deficit with India was $28.8 billion in 2019.
India is currently our 9th largest goods trading partner with $92.0 billion in total (two way) goods trade during 2019. Goods exports totaled $34.3 billion; goods imports totaled $57.7 billion. The U.S. goods trade deficit with India was $23.4 billion in 2019.
Trade in services with India (exports and imports) totaled an estimated $54.1 billion in 2019. Services exports were $24.3 billion; services imports were $29.7 billion. The U.S. services trade deficit with India was $5.4 billion in 2019.
According to the Department of Commerce, U.S. exports of goods and services to India supported an estimated 197 thousand jobs in 2015 (latest data available) (82 thousand supported by goods exports and 116 thousand supported by services exports).
Exports
- India was the United States' 12th largest goods export market in 2019.
- U.S. goods exports to India in 2019 were $34.3 billion, up 3.3% ($1.1 billion) from 2018 and up 108.5% from 2009. U.S. exports to India account for 2% of overall U.S. exports in 2019.
- The top export categories (2-digit HS) in 2019 were: mineral fuels ($8.2 billion), precious metal and stone (diamonds) ($6.4 billion), aircraft ($2.8 billion), machinery ($2.4 billion), and organic chemicals ($1.9 billion).
- U.S. total exports of agricultural products to India totaled $1.8 billion in 2019, our 13th largest agricultural export market. Leading domestic export categories include: tree nuts ($823 million), cotton ($587 million), fresh fruit ($62 million), dairy products ($60 million), and pulses ($37 million).
- U.S. exports of services to India were an estimated $24.3 billion in 2019, 4.8% ($1.1 billion) more than 2018, and 144% greater than 2009 levels. Leading services exports from the U.S. to India were in the travel, intellectual property (computer software, audio and visual related products), and transport sectors.
Imports
- India was the United States' 10th largest supplier of goods imports in 2019.
- U.S. goods imports from India totaled $57.7 billion in 2019, up 6.3% ($3.4 billion) from 2018, and up 172.6% from 2009. U.S. imports from India account for 2.3% of overall U.S. imports in 2019.
- The top import categories (2-digit HS) in 2019 were: precious metal and stone (diamonds) ($11 billion), pharmaceuticals ($7.6 billion), machinery ($3.7 billion), mineral fuels ($3.6 billion), and organic chemicals ($2.8 billion).
- U.S. total imports of agricultural products from India totaled $2.6 billion in 2019, our 14th largest supplier of agricultural imports. Leading categories include: spices ($271 million), rice ($230 million), essential oils ($184 million), processed fruit & vegetables ($142 million), and other vegetable oils ($133 million).
- U.S. imports of services from India were an estimated $29.7 billion in 2019, 3.0% ($864 million) more than 2018, and 143% greater than 2009 levels. Leading services imports from India to the U.S. were in the telecommunications, computer, and information services, research and development, and travel sectors.
Trade Balance
- The U.S. goods trade deficit with India was $23.4 billion in 2019, a 11.0% increase ($2.3 billion) over 2018.
- The United States has a services trade deficit of an estimated $5.4 billion with India in 2019, down 4.6% from 2018.
Investment
- U.S. foreign direct investment (FDI) in India (stock) was $45.9 billion in 2019, a 8.1% increase from 2018. U.S. direct investment in India is led by professional, scientific, and technical services, manufacturing, and wholesale trade.
- India's FDI in the United States (stock) was $5.0 billion in 2019, down 2.3% from 2018. India's direct investment in the U.S. is led by professional, scientific, and technical services, manufacturing, and depository institutions.
- Sales of services in India by majority U.S.-owned affiliates were $32.1 billion in 2017 (latest data available), while sales of services in the United States by majority India-owned firms were $17.8 billion.
|
U.S. Goods and Services Trade with India (in billions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
59.5 |
103.8 |
108.4 |
113.6 |
124.5 |
139.6 |
146.1 |
|
Exports |
25.6 |
35.9 |
38.8 |
41.2 |
47.7 |
56.4 |
58.6 |
|
Imports |
33.9 |
67.9 |
69.6 |
72.5 |
76.9 |
83.2 |
87.4 |
|
Balance |
-8.3 |
-32.0 |
-30.9 |
-31.3 |
-29.2 |
-26.8 |
-28.8 |
|
U.S. Goods Trade with India (in billions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
37.6 |
66.9 |
66.2 |
67.7 |
74.2 |
87.5 |
92.0 |
|
Exports |
16.4 |
21.5 |
21.5 |
21.6 |
25.6 |
33.2 |
34.3 |
|
Imports |
21.2 |
45.4 |
44.8 |
46.0 |
48.5 |
54.3 |
57.7 |
|
Balance |
-4.7 |
-23.9 |
-23.3 |
-24.4 |
-22.9 |
-21.1 |
-23.4 |
|
U.S. Agricultural Trade with India (in billions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
1.9 |
4.2 |
3.9 |
3.4 |
4.2 |
4.2 |
4.5 |
|
Exports |
0.7 |
1.1 |
1.2 |
1.3 |
1.6 |
1.5 |
1.8 |
|
Imports |
1.2 |
3.2 |
2.7 |
2.1 |
2.6 |
2.7 |
2.6 |
|
Balance |
-0.5 |
-2.1 |
-1.5 |
-0.8 |
-1.0 |
-1.2 |
-0.8 |
|
U.S. Manufacturing Trade with India (in billions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
34.6 |
61.4 |
60.5 |
61.8 |
65.5 |
74.5 |
75.9 |
|
Exports |
14.4 |
18.9 |
18.5 |
18.8 |
21.1 |
24.5 |
22.9 |
|
Imports |
20.1 |
42.5 |
41.9 |
43.1 |
44.4 |
50.0 |
53.0 |
|
Balance |
-5.7 |
-23.6 |
-23.4 |
-24.3 |
-23.3 |
-5.5 |
-30.2 |
|
U.S. Services Trade with India (in billions of dollars) |
|||||||
|
|
2009 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|
Total |
21.9 |
37.0 |
42.2 |
46.0 |
50.3 |
52.1 |
54.1 |
|
Exports |
9.1 |
14.4 |
17.3 |
19.5 |
22.0 |
23.2 |
24.3 |
|
Imports |
12.7 |
22.6 |
24.9 |
26.4 |
28.3 |
28.9 |
29.7 |
|
Balance |
-3.6 |
-8.2 |
-7.5 |
-6.9 |
-6.3 |
-5.7 |
-5.4 |
Last updated:October 2, 2020
