MUMBAI, 2 Aug (Commoditiescontrol): India remained the world's eighth-largest agricultural exporter in 2023, even as its export value fell from $55 billion in 2022 to $51 billion. This stability is notable amid a broader decline in agricultural exports among seven of the top ten exporting countries.
The WTO’s Trade Statistics 2023 report reveals that only three out of the top ten exporting nations—Brazil, the European Union (EU), and Thailand—increased their agricultural exports in 2023. Brazil's exports grew by 6% to $157 billion, securing its third position. The EU saw a 5% rise to $836 billion, maintaining its leading position. Thailand's exports increased slightly by 0.2%, though it remains outside the top three.
India's export decline is attributed to various geopolitical challenges, including the Red Sea crisis and the ongoing Russia-Ukraine war, which have disrupted global trade. Additionally, India’s export bans on wheat (May 2022), non-basmati rice (July 2023), and sugar (October 2023) have further impacted its export figures.
The United States, despite a reduction to $198 billion, retained its second position, while China experienced a slight decrease to $95 billion, remaining in fourth place. Other top exporters include Canada, Mexico, Indonesia, and Australia.
The WTO's 2023 report also introduces a new interactive platform for analyzing international trade data, allowing users to explore trends by value, volume, economy, region, and product group. This tool provides deeper insights into global trade dynamics.
(By Commoditiescontrol Bureau; +91 98201 30172)
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