Channel: Trade

19 June, 2010
Trade in Mineral Fuels & Oils
Tables & Graphs
 
The trade volume of Minerals fuels and Mineral oils between India and the UK has been increasing since 2001 through 2008 but 2009 witnessed a sharp decline of 52%as compared to 2008. The total tradebetween the two nations stands at 215.89 million GBP for the year 2009 whereas it was 451.38 million GBP in the previous year. India has the greater share in the pie of total trade with 65% to its name in the year 2009. In fact, India has always had the greater share in total trade since 2001. This is the reason why the UK has witnessed a trade deficit in this particular category. In the year 2009, the trade deficit was 64.84 million GBP.
 

Quick Facts
Trade Growth and Declines

  • The exports of Minerals fuels and Mineral oils (HS code - 27) from the UK to India in year 2009 stands at 75.53 million GBP.
  • Exports from the UK to India are down by 26.13% when compared to 2008, the year when exports were at 102.25 million GBP.
  • UK’s exports from India have seen the highest growth in 2008 when the imports increased by over 170.33% as compared to the previous year.
  • On the other hand the imports of Minerals fuels and Mineral oils stand at 140.36 million GBP in the year 2009
  • Imports from India by the UK again down by 59.79% as compared to 2008 when they were as high as 349.13 million GBP.
  • UK’s Imports from India have seen the highest growth in 2003 when the imports increased by a whopping 552% as compared to the previous year.
  • UK’s imports were sinusoidal between 2001 and 2004 but increased steadily from 2004 to 2008 and eventually fell down considerably in 2009. Over the period 2001 to 2009 have shown a CAGR of 0.239.
  • In the period 2001 to 2009, the UK’s imports from the world have only grown by a CAGR of 0.152.
  • The worst year for imports from India was 2002 when exports dropped by 61.23% compared to 2001.
  • UK’s exports to India have displayed a similar trend to the imports.
  • UK’s exports were sinusoidal between 2001 and 2004 but increased steadily from 2004 to 2008 and eventually fell down considerably in 2009. Over the period 2001 to 2009 have shown a CAGR of 0.245.
  • In the period 2001 to 2009, the UK’s exports from the world have only grown by a CAGR of 0.063.
  • The worst year for exports to Indiawas 2002 when exports dropped by 27.47% compared to 2001.

Share of trade

  • India’s share inthe UK’s total exports of Minerals fuels and Mineral oils(HS code - 27)was a meagre0.29% in 2009,slightly lower than the previous year when it was 0.3%.
  • UK’s total export of Minerals fuels and Mineral oilsto the world was 25.34 billion GBP in 2009.
  • From 2001 to 2009, India’s share in the UK’s exports has been varying between 0.06 (in 2002) to a maximum of 0.3% (in 2008).
  • India’s share inthe UK’s total imports of Minerals fuels and Mineral oils was 0.44 % in 2009, much lower than the previous year when it was 0.78%.
  • UK’s total import of Minerals fuels and Mineral oils from the world was 31.73 billion GBP in 2009.
  • From 2001 to 2009, India’s share in the UK’s exports has been varying between 0.1 (in 2002) to 0.78 (in 2008)%.
  • In terms of total trade, India and the UK’s total trade of Minerals fuels and Mineral oils stands at 215.89 million GBP, of which India’s share is a 65% and the UK’s 35%.
  • The trade deficit for UK kept increasing till 2007 and registered an all-time high in 2007 when it was 302 million GBP. In 2008 it fell to 246.8 million GBP.
 

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