By Ambassador (Retd.) And Viswanathan
According to the Indian Ministry of Commerce, India’s exports to Latin America reached a record high of 18 18.89 billion between 2021-22 (April-March). Exports grew an impressive 48% from .7 12.74 billion in 2020-21.
Brazil continues to be India’s # 1 export destination in the region, with লার 6.49 billion, up 53% from 2020-21.
Mexico was # 2 with 4.42 billion – a 43% increase.
Argentina returned to claim third place after many years with 1.43 billion – an incredible 107% increase over last year.
Colombia was # 3 with 1.38 billion – an increase of 59% from 865 million.
Chile has joined the billion dollar club for the first time with a growth of 47% to 1.18 billion.
The other major destinations were: Peru 898 Million and Guatemala 552 m
Exports to other countries are in the table below.
Exports to the region’s three major trade blocs were: Mercosur 8.28 billion, Pacific Alliance 7.88 billion and CAFTA (Central America + Dominican Republic) 1.95 billion.
In some distant Latin American countries, India’s exports exceed those of neighboring countries or traditional trading partners of the same or larger population. This is a trend of the last few years. Example:
India’s exports to faraway Guatemala are 2 552 million (population 11 million), more than double the 198 198 million exports to neighboring Cambodia with a population of 16 million.
Exports to remote Honduras 318 m (population 10 m) 19 m population more than 235 m exports to Kazakhstan.
Exports to Brazil (6.48 billion) are higher than traditional trading partners such as Japan (6.18 billion) and Thailand (5.7 billion).
Exports to Mexico (4.43 billion) are higher than Canada (3.6 billion) and Russia (3.2 billion).
Vehicles 3835 m (up from 26 2608 million last year)
Chemical 3139 m (2534 m last year)
Petroleum Products 2111 m.
Equipment 1664 m
Pharma 1486 m
Textile 1015 m
Cotton. 761 m
Plastic. 518 m
Iron and steel 905 m
Aluminum products 688 m
Rubber products 415 m.
Car exports to Latin America were 9 1793 million. It accounted for 30% of India’s গাড়ি 5.92 billion global car exports. Mexico was the second largest world market for Indian cars, including 941m. Other major destinations: Chile 337 m and Peru 115 m
Motorcycle exports have reached ৯ 909 million. This is 30.5% of India’s 2.99 billion global exports. India was the second largest supplier of motorcycles in Latin America.
The main destinations were Colombia at 30 309 million, Mexico at 174m, Guatemala at 103m and Peru at 43m. Colombia was the second largest market for Indian motorcycles after Nigeria. A few years ago Colombia was the # 1 destination. Indian brands are the market leaders in Colombia and Guatemala.
Pharma exports rose to ৮৬ 147 million from ১১ 1,198 million last year. India is the # 6 supplier of medicines in the region
India’s main drug export destinationBrazil 37 374 million, Peru 105 m, Chile 153 m, Mexico 167 m, Colombia 103 m, Dominican Republic 67 m, Venezuela 102 m, Guatemala 64 m, Bolivia 46 m and Ecuador 34 m.
India is the # 3 supplier of organic chemicals in the region.
India’s imports from Latin America in 2021-22 were .6 25.62 billion. The main suppliers were: Brazil 5.71 billion, Mexico 4.25 billion, Argentina 4.2 billion, Peru 2.71 billion, Colombia 2.96 billion, Chile 1.37 billion, Bolivia 2.07 billion, Ecuador 1.01 billion and U domaj, Venez mi 29, domaj and domaj. 89 m
Main import items:
Crude oil is worth 18 9.18 billion
Gold. 7.91 billion
Vegetable oil. 4.34 billion
Copper 99 995 million
Equipment 545 m
Chemical 419 m
Iron and steel 321 m
Fruits and vegetables 285 m
Major sources of crude oil imports: Mexico 3. 3.42 billion, Brazil 25 2.25 billion, Colombia 32 2.32 billion and Ecuador 65 865 million.
Venezuela has been a major source of oil imports to the region for the past fifteen years. But U.S. sanctions cut Venezuelan supplies to just 89 meters from a peak of about 10 10 billion in 2021-22. No imports in 2021-22.
Sources of gold imports: Peru 32 2.32 billion, Bolivia 2.06 billion, Brazil 703 million, Dom Republic 600m, Colombia 548m, Argentina 465m and Mexico 147m.
Latin America is India’s main source of soybean oil imports. Argentina, as usual, was the # 1 global supplier of soybean oil with 3.27 billion, followed by Brazil with 0 1.07 billion.
Million US dollars figures
T.Red from 2010-11 to 2021-22
India’s exports increased from 0 10.04 billion at the beginning of the decade to .7 13.7 billion in 2014-15. But due to the recession and economic problems in Latin America, India’s exports declined in 2015-16. Since then exports have grown steadily and in 2021-22 spectacularly.
India’s imports peaked at 31 31.38 billion in 2012-13 due to high crude oil prices and huge imports from Venezuela.
Annual Indo-Latin American trade surpasses সর্বোচ্চ 44.08 billion in 2013-14