India’s exports to Latin America increased to 13.2 billion dollars in 2019-20, the highest in 5 year
India’s exports reached 13182 million dollars in 2019-20 (April-March) from 10 billion in 2015-16, according to the figures just released by the Ministry of Commerce, India.
Brazil came back this year to claim its position as the # 1 destination of India’s exports to the region, with 3.97 billion dollars, overtaking Mexico.
The other major destinations were:
Mexico USD 3.62 billion; Colombia USD1.04 billion; Chile USD 793 million; Peru USD 764 million; Argentina USD 763 million. Surprisingly, exports to Venezuela doubled to USD 340 million doubling from USD 165 million in 2018-19.
Exports to Mercosur was USD 5005 million, Pacific Alliance USD 6223 million, CAFTA (Central America + DR) USD 1200 million and others USD 754 million.
Vehicles USD 3231 million; Chemicals USD 2576 mn; Machinery USD 1426 mn; Textiles USD 1058 mn; Diesel USD 1049 mn; Pharma USD 962 mn; Cotton USD 359 mn; Plastics USD 386 mn; Iron and steel USD 394 mn; Aluminium products USD 342 mn; Rubber products USD 264 mn.
Latin America accounted for 28% of India’s global car exports of USD6.7 bn. Mexico was the second largest global market for Indian cars after US.
Other major destinations: Chile USD 178 mn, Peru USD 139 mn, Paraguay USD 44mn, Bolivia USD 42 mn, Colombia USD 37 mn and Guatemala USD 31 mn.