UK copper import from India
India's share in UK copper imports and exports
The Trade volume between India and the UK in Copper and related products has been improving over the years. The UK has been the dominant player in the bilateral trade. The total bilateral trade has dropped by 11.61% in the year 2002. It recovered strongly in the next year with a growth rate of 26.56%. The total bilateral trade has shown increase in the growth percentages till 2005. After 2005, the growth rate of the bilateral trade has decreased consistently since 2005. The total trade dropped by 5.74%in 2009 as compared to 2008. However, the total trade volume is expected to increase as India is poised to show a tremendous growth in infrastructure, power, automobile and construction sectors since copper is an essential metal required for projects in all these sectors.
Trade Growth and Declines
- The exports of Copper and related products from the UK to India in year 2009 stands at GBP 56.18m while that of import from India to UK is at GBP 12.95m.
- UK’s Import from India has seen a drop of 25.22% in 2009 from GBP 17.32m to GBP 12.95m.
- UK’s exports however managed to increase marginally by 0.29% showing that India’s demand for the metal is stable, if not on an increase.
- UK’s export to India has witnessed the highest growth rate of 70.89% in the year 2005 on Year-on-Year (YOY) basis.
- The Copper and related products’ exports from UK to India grew, even in the recessionary times in 2008, by 7.9%.
- There has been a steady decline in growth percentages of the exports of copper and related products’ to India since 2005.
- UK’s export to India has shown a huge growth of 70.9% on YOY basis in the year 2005. Since then, every year, the growth percentage as compared to the previous year has reduced to half until 2009 when it grew by a meagre 0.29%.
- Whereas, the UK’s import from India showed a negative trend since 2008. It fell by 9.4% in 2008 from the 2007 level and a further 25% in 2009.
- Highest trade growth in copper and related products’ export and import was observed in the year 2005 when it grew by 35%.
Share of trade
- India’s share in the UK’s total exports of Copper and related products’ was 3.93 % in 2008, a notch lesser than the amount in 2007 when it was 4.05%.
- UK’s total import of Copper and related products from the world is GBP 1.634b.
- India’s share in the UK’s total import of Copper and related products’ in 2008 was 1.059%.
- UK’s total export of Copper and related products to the world was GBP 1.424b.
- India’s share in the UK’s total import of Copper and related products has been more or less constant since 2001. The share has been hovering between 1% and 2.15%.
- However, India’s share in the UK’s total export of Copper and related products has increased from2.71% to 3.93% in the last decade.
- India’s share in the UK’s total exports of Copper and related products touched a maximum of 4.56% in the year 2005.