Based on two-way merchandise trade in 2016, India became the United States’ 9th-largest single-country trading partner (rising from 10th place in 2015). US two-way merchandise trade with India increased 2.2 per cent to $67.7 billion in 2016, the United States International Trade Commission (USITC) stated in its ‘The Year in Trade 2016’ report.
As per the report in 2016, India’s share of total US merchandise trade with the world rose to 1.9 per cent, up from 1.8 per cent in 2015, continuing a slow but steady increase in India’s share of US merchandise trade with the world over recent years.
Although US exports to India went up slightly in 2016, the US merchandise trade deficit with India rose 4.2 per cent to $24.3 billion in 2016 as imports grew even more than exports.
US merchandise exports to India increased 1.1 per cent from $21.5 billion in 2015 to $21.7 billion in 2016. Leading US exports to India in 2016 were non-industrial diamonds; non-monetary gold; civilian aircraft, engines, and parts; almonds; and petroleum coke. US merchandise imports from India increased 2.7 per cent in 2016 to $46.0 billion.
