Channel: Trade

Thursday, 3 November 2010
Trade in electric machinery etc..
 
 

Electrical machinery and equipments constitute one of the major categories of India’s import from the USA. With the increasing demand of energy to support its vibrant economy, India needs to import better electrical equipments and equipments to address various problems it faces in the power sector. Though, India’s export to the USA has also been increasing over the years in this product category.

 

In fact in 2006 for the first time India had balance of trade surplus in this product category, though in 2009 India’s share in the bilateral trade declined and the USA again became the dominant partner with 53.5% share of the total trade.

 

India’s export of goods in this category got hit by economic recession in the USA as it declined by 17%, India’s import from the USA more or less remained on the same level, dipped a notch by 1.8% to be exact. For both the countries India and the USA the top traded items with China have been electrical and power generation equipments. Thus, it appears USA and India are not concentrating on their top traded items to increase the volume of the bilateral trade. US import and export in this product category has increased at a CAGR of 19% and 11.6% respectively indicating a huge potential for the future.

 
 

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