Total Value
Growth Rate
% of GDP

Imports are foreign goods and services bought by citizens, businesses, and the government of another country. If a country imports more than it exports it runs a trade deficit. If it imports less than it exports, that creates a trade surplus. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. 

A mature economy should aspire to become a net exporter as:

  • Imports make a country dependent on other countries' political and economic power. That's especially true if it imports commodities, such as food, oil, and industrial materials. It's dangerous if it relies on a foreign power to keep its population fed and its factories humming. For example, the United States suffered a recession when OPEC embargoed its oil exports.
  • Countries with high import levels must increase their foreign currency reserves to pay for the imports. This can affect the domestic currency value, inflation, and interest rates.
  • Domestic companies should be able to compete with foreign companies that import similar goods and services to their businesses.

Imports are foreign goods and services bought by citizens, businesses, and the government of another country. If a country imports more than it exports it runs a trade deficit. If it imports less than it exports, that creates a trade surplus. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. 

A mature economy should aspire to become a net exporter as:

  • Imports make a country dependent on other countries' political and economic power. That's especially true if it imports commodities, such as food, oil, and industrial materials. It's dangerous if it relies on a foreign power to keep its population fed and its factories humming. For example, the United States suffered a recession when OPEC embargoed its oil exports.
  • Countries with high import levels must increase their foreign currency reserves to pay for the imports. This can affect the domestic currency value, inflation, and interest rates.
  • Domestic companies should be able to compete with foreign companies that import similar goods and services to their businesses.
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SUBJECT Variables
Imports are foreign goods and services bought by citizens, businesses, and the government of another country.
Imports | India | 2013 - 2023 | Data, Charts and Analysis
Data and insights India's Imports - goods and services, oil and non-oil, destinations, economic impact, and comparison with global peers.
2013,2014,2015,2016,2017,2018,2019,2020,2021,2022,2023,actual,amount,amounts,analysis,annual,chart,charts,compared,comparison,composition,countries,country,current,data,economy,figure,figures,gdp,global,goods,graph,graphs,growth,historical,import,imports,india,indian,indicator,indicators,info,information,level,levels,non-oil,oil,percentage,performance,rate,services,statistics,stats,tariff,tariffs,trade,value,values,year,yearly
01/04/2013 To 31/03/2023
Total Value
Growth Rate
% of GDP
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Characters : 109/225
Characters : 57/120
Characters : 137/160
Characters : 430/3500
To
Total Value
Growth Rate
% of GDP
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IMPORTS
Total Value
Source: Department of Commerce
Growth
Source: Department of Commerce
  • The total value of imports (goods and services) increased to USD 894.2 billion in 2022-23 from USD 759.6 billion a year earlier.
  • Total imports in 2022-23 were 17.7% higher than a year ago. In comparison to the pre-Covid year of 2019-20, the total imports in 2022-23 were higher by 48%.
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Value (Goods & Services)
Source: Department of Commerce
Growth (Goods & Services)
Source: Department of Commerce
  • The total value of all goods (merchandise) imports rose from USD 612.6 billion in 2021-22 to USD 714 billion in 2022-23 - a 16.6% increase.
  • Services imports recorded a 22.6% growth in 2022-23 compared to a growth of 25% a year ago.
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