To give some context to the magnitude of America’s product deficit from exchanging exported and imported goods with the Republic of India, its -$25.5 billion US deficit with India in 2019 equals just 1.8% of America’s overall -$923.2 billion deficit during 2019 when world trade with all countries is contemplated. Globally, America’s trade deficit with all trade partners decreased via a -2.4% contraction in red ink for the US from 2018 to 2019.
Key USA Product Trade Balances with India
- US Surpluses
- US Deficits
- Sources
US Surpluses
The following 25 products generated the greatest surpluses for America from its trade with India in 2019, generating a subtotal $16.9 billion in black ink for the US.
- Crude oil: US$5.6 billion (up 70% from 2018)
- Gold (unwrought): $1.5 billion (down -22.6%)
- Coal, solid fuels made from coal: $1.23 billion (down -25.2%)
- Miscellaneous aircraft, spacecraft (e.g. helicopters, launchers): $1.18 billion (up 382.9%)
- Miscellaneous nuts: $816.5 million (up 24.3%)
- Acyclic hydrocarbons: $785.4 million (up 59.3%)
- Petroleum gases: $647 million (up 109%)
- Cotton (uncarded, uncombed): $599.5 million (up 80.2%)
- Iron or steel scrap: $501.5 million (up 18.6%)
- Paper/paperboard waste, scrap: $484 million (down -8.9%)
- Computers, optical readers: $451.9 million (up 21.7%)
- Petroleum oil residues: $330.8 million (down -11.9%)
- Ethyl alcohol: $328.7 million (up 23.8%)
- Aluminum waste, scrap: $322.4 million (up 5.1%)
- Coal tar oils (high temperature distillation): $279.5 million (down -33%)
- Physical/chemical analysis tools: $217.9 million (down -0.3%)
- Integrated circuits/microassemblies: $209.4 million (up 23.2%)
- Initiators/accelerators, catalytic preps: $199.7 million (down -4.6%)
- Ethylene polymers: $187.2 million (up 42.1%)
- Electro-medical equipment (e.g. xrays): $186 million (down -7.6%)
- Oscilloscopes, spectrum analyzers: $174.6 million (down -0.4%)
- Copper waste, scrap: $173.1 million (up 17.8%)
- Cyclic hydrocarbons: $164.1 million (up 35.4%)
- Precious metal compounds: $158.4 million (up 78.3%)
- Chemical woodpulp (non-dissolving): $142.5 million (up 1.2%)
The fastest-growing American trade surplus garnered from exchanging products with India from 2018 to 2019 was for the highly capital-intensive product category miscellaneous aircraft and spacecraft thanks to a 382% increase. In second place were petroleum gases (up 109%), uncarded and uncombed cotton (up 80.2%), precious metal compounds (up 78.3%) then crude oil (up 70%).
Leading reductions in US trade surpluses with India belong to high temperature-distilled coal tar oils (down -33%), coal including solid fuels made from coal (down -25.2%), unrefined gold (down -22.6%) and petroleum oil residues (down -11.9%).
US Deficits
Sources
See also Top United States Trade Balances, Top Indian Trade Balances