World Trade Statistics 2023

As per the WTO’s Trade Statistics 2023 report India has retained its position as the eighth-largest exporter of agricultural products globally in 2023, despite a decrease in its export value.

About WTO’s Trade Statistics 2023 Report:

• The WTO’s World Trade Statistics 2023 provides key insights and trends for international trade.
• It features an interactive tool allowing users to view trade data by economy, region, product group, and services sector.
• This tool offers a comprehensive view of both the value and volume of global trade.

Key Highlights of the report:

Global Agriculture Export Trends:

• The top five agricultural exporters in 2023 were:
  • European Union (EU) – $836 billion
  • United States (US) – $198 billion
  • Brazil – $157 billion
  • China – $95 billion
  • Canada – Value not specified
• The EU maintained its lead with increased exports, up from $799 billion in 2022.
• The US continued as the second–largest exporter, despite a decrease in export value.
• China’s exports slightly declined but remained in the fourth position.

Overview of India’s Position:

• India remained the eighth–largest exporter of agricultural products in 2023.
• India’s agricultural exports fell to $51 billion in 2023 from $55 billion in 2022.
• The country’s share of global agricultural exports stood at 2.24%.

Decline in Agriculture Exports

• The decline in India’s agricultural exports can be attributed to several factors:
  • Geopolitical issues, such as the Red Sea crisis and the ongoing Russia-Ukraine war.
  • Specific commodity bans:
    • Wheat export ban imposed in May 2022.
    • Non-basmati rice export ban in July 2023.
    • Sugar export ban starting in October 2023.

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