India’s Exports Grew Faster than China Last Year, Says WTO

 

By M. Saraswathi

NEW DELHI, India (NNN-Bernama) -- India emerged as the fastest export growth country among major traders last year surpassing China, with shipments rising 16.1 per cent, but far behind in terms of value, according to a report.

China had the second-fastest export growth of any major economy at 9.3 per cent, said the World Trade Organisation’s World Trade Report 2012.

However, in terms of value, China still topped the list, with US$1.9 trillion worth of merchandise exported. It contributed to 10.4 per cent of the world’s exports last year.

China was followed by the United States (US$1.48 trillion, 8.1 per cent), Germany (US$1.47 trillion, 8.1 per cent), Japan (US$823 billion, 4.5 per cent) and the Netherlands (US$660 billion, 3.6 per cent).

India’s export value last year was US$0.29 trillion, accounting to 1.6 per cent of world trade.

In 2010, China, in particular, made an outsized contribution to the world trade recovery, as the country's exports rose by a massive 28 per cent in volume terms and was valued at US$1.58 trillion. -- NNN-BERNAMA