ASEAN Countries Trade with India in 2017 – India ASEAN Trade Relations

29 January 2018
India ASEAN Trade

The trade relationship between India and South East Asian Nations have continued to improve and developing at moderately a fast pace during last decade. India and ASEAN are currently negotiating agreements on trade in services and investment. In 2009, India signed a free trade agreement with ASEAN countries and made an agreement that both will lift import tariffs on most of the traded products. Indo ASEAN FTA will have several negative impacts on the economy. It emerged from a common interest of both regions to expand their economic ties in the Asia-Pacific region.


As both regions aim to reduce their import duty on a majority of their traded products which will allow them to increase the market access of their products. There is a concern that India will not experience as great an increase in market access to ASEAN nations as ASEAN will in India. However, ASEAN region is important to India for several reasons. Let’s take a look at the detailed analysis of India ASEAN trade.



About ASEAN Countries Trade


ASEAN stands for Association of South East Asian Nations. It comprising 10 nations including Singapore, Vietnam, Malaysia, Indonesia, Thailand, Philippines, Myanmar, Cambodia, Brunei Darussalam and Laos Democratic Republic. It is a growing hub of consumer demand. If ASEAN treated as a single entity, it would rank as the third largest economy in Asia and seventh largest in the world. ASEAN is well positioned in global trade flows and it is the fourth largest exporting region in the world and trailing European Union, North America and Hong Kong. ASEAN exports of goods to the world worth USD 1182 trillion while imports worth USD 1104 trillion in 2016. The trade balance of ASEAN nations recorded USD 78 trillion during the same period.



India ASEAN Trade Statistics of Last 5 Years


India exports of goods to ASEAN nations stood at USD 26002 million and imports stood at USD 33654 million during Jan-Sept 2017. The trade between these two regions has been declined after year 2014. Refer the below table to check the last five years import export statistics of India ASEAN bilateral trade.



Year

Export (USD Million)

Import (USD Million)

2017 (Q1-Q3)

26002

33654

2016

26381

38222

2015

26428

41516

2014

31294

44457

2013

37885

42308



A report on ASEAN countries trade data prepared by Export Genius gives a comprehensive outlook on bilateral trade relations of India with any particular country of ASEAN. This market research company provides import export data based on actual shipment records. You can go through the report and take a look at the trading activities of various companies.



India Exports to ASEAN Countries in 2017


Singapore and Vietnam are the main markets for India in ASEAN region which recorded USD 8876 million and USD 5486 million respectively during Q1-Q3 2017. India exports to ASEAN nations stood at USD 26002 million in 2017 while it was USD 26381 million in 2016 which represented 10.1% share in India’s exports. However, India export to ASEAN is declined by 4% in terms of value between 2012 and 2016. Check the following table to know the trade figures of India’s top export partners in ASEAN nations.



Country

Value (USD Million)

Singapore

8876

Vietnam

5486

Malaysia

4176

Indonesia

2740

Thailand

2684

Philippines

1112

Myanmar

779

Cambodia

86

Brunei

39

Laos

14

*Above stats are based on Jan-Sept 2017 report



Top Products that India Exports to ASEAN Countries


Petroleum oil, meat of bovine animals (beef), crustaceans, flat rolled products of iron/ alloyed steel and diamonds. Petroleum oil is the top product that India exports to ASEAN countries and recorded USD 6734 million in during Jan-Sept 2017. Beef is one of the most demanded products in ASEAN nations. India has world’s largest cattle population and it is also top beef exporter country in the world. India beef exports to ASEAN countries stood at USD 1861 million in 2017 until September. Here is the table representing values of India’s top exports to ASEAN.



HS Code

Product

Value (USD Million)

2710

Petroleum Oil

6734

0202

Bovine animals meat

1861

0306

Crustaceans

907

7208

Iron steel flat rolled products

750

7102

Diamonds

689

*Above stats are based on Jan-Sept 2017 report



India Imports from ASEAN Countries in 2017


India goods imports from ASEAN countries stood at USD 33654 million during Jan-Sept 2017. It recorded USD 38222 million in 2016 which was 10.7% of India’s total imports. Indonesia, Malaysia and Singapore are the top ASEAN countries from where India imports majorly and recorded USD 11804 million, USD 6795 million and USD 5375 million respectively during Q1-Q3 2017. Go to the following table to check the trade figures of India imports from ASEAN countries.



Country

Value (USD Million)

Indonesia

11804

Malaysia

6795

Singapore

5375

Thailand

4662

Vietnam

3028

Myanmar

677

Philippines

535

Brunei

522

Laos

210

Cambodia

34

*Above stats are based on Jan-Sept 2017 report



Top Products that India Imports from ASEAN Countries


Palm oil, coal, telephone sets, crude petroleum oil and automatic data processing machines are the top commodities that India imports from ASEAN countries. Palm oil and coal from ASEAN are the most demanded product in India which recorded USD 5215 million and USD 4233 million respectively during Jan-Sept 2017. As Indonesia is the top palm oil exporter country in the world and this country is top import partner of India among ASEAN countries. Let’s check the below table to know India’s top imports from ASEAN with their HS Code and values.



HS Code

Product

Value (USD Million)

1511

Palm Oil

5215

2701

Coal

4233

2709 Crude petroleum oil 1732

8517

Telephone Sets1289

8471

Automatic data processing machines

911

*Above stats are based on Jan-Sept 2017 report


The ASEAN India FTA is a free trade area among the ten member states of the Association of South East Nations and India. If you want to import or export your product in ASEAN countries from India, our trade data provides you details of importers and exporters. Our report also covers HS Code, product description, value, quantity, port and other shipment records. For example, India is the top most buyer of palm oil. So, if you want to export palm oil to this India, then you must know active palm oil buyers in India along with complete market scenario. For this, you have to buy palm oil import data of India from a trusted market research company like Export Genius. For reference, have a look on the sample of India palm oil imports given below.


Date

24 November 2016

HS Code

15111000

Product Description

Crude palm oil edible grade in bulk total carotenoid (as beta carotene) range in between 250 and 2500 MG/KG acid Val Min 4

Exporter Country

Indonesia

Importer Country

India

Indian Port

Kolkata Sea

Unit

MTS

Quantity

500

Total Value

USD 355194.8

Unit Rate

USD 710.38

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