India's Global trade rises 16 % to $ 767.9 billion in 2017-18 : Commerce Department

Posted by Daily Shipping Times on 02-05-2018        Tweet

Bolivia has emerged as a major trade partner of India in LAC region with bilateral trade registering a growth of 205 per cent in 2017-18 year on year

NEW DELHI: India's global trade increased by 16.32 per cent to USD 767.9 billion in 2017-18, according to the Commerce Department data. In 2016-17, the trade stood at USD 660.2 billion.

"While India's global trade grew by 16.32 per cent between 2016-17 and 2017-18, India's total trade with LAC (Latin American countries) grew by 19.63 per cent," the Department said in a series of tweets.

It said that bilateral trade with LAC including Bolivia, Peru, Chile and Brazil has recorded healthy growth in 2017-18 as per the provisional numbers.

"Bolivia has emerged as a major trade partner of India in LAC region with bilateral trade registering a growth of 205 per cent from USD 253 million in 2016-17 to USD 772.44 million in 2017-18," it said.

Similarly, two-way commerce with Brazil has increased to USD 8.56 billion in the last fiscal from USD 6.51 billion in 2016-17.

Bilateral trade with Chile grew to USD 2.85 billion in 2017-18 from USD 1.90 billion in the previous fiscal.

"India's trade with LAC increased from USD 24.52 billion in 2016-17 to USD 29.33 billion in 2017-18," it added.