labels: economy - general, world trade organisation
India is world''s 11th largest services exporter, says WTO news
13 November 2006

Mumbai: India has jumped five places to become the world's 11th biggest exporter of commercial services in 2005. The country has also emerged as the world's 13th largest importer of commercial services, the World Trade Organisation (WTO) reported in the latest statistics.

India has also inched one step ahead to the 29th rank among world's largest merchandise exporters and moved up eight positions to become the and 17th largest importer of goods from 23rd a year ago, according to WTO's International Trade Statistics for 2005.

The country's total exports of services grew by 41.6 per cent to $56.1 billion as against $39.6 billion. This has been fuelled by a booming software and ITeS exports which helped the country maintain a modest surplus in services trade as imports stood lower at $52.2 billion.

India's total merchandise imports, however, swelled to $134.8 billion from $97.3 billion in 2004, aided by rising crude oil prices, which is the country's largest single import. Exports, meanwhile, have jumped 25.8 per cent in 2005 to $95.1 billion compared to $75.6 billion in the previous year.

The country's share in goods exports is just 0.9 per cent and in goods imports a mere 1.3 per cent. In services, the country has 2.3 per cent share in exports and 2.2 per cent in imports during 2005. The country's overall imports - both goods and services - were much higher at $197 billion in 2005 compared to $151.2 billion of total exports that year.

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India is world''s 11th largest services exporter, says WTO