Current Affairs-Topics

India holds the 8th rank in the Global Agricultural Exports

India remains the 8th largest agricultural exporter globally, but its exports decreased from $55 billion in 2022 to $51 billion in 2023. The top ten exporting nations experienced a decline, with Brazil, the European Union, and Thailand showing growth.

Global Agricultural Export Landscape

  • India maintained its position as the 8th largest agricultural exporter globally in 2023.
  • India's exports decreased from $55 billion in 2022 to $51 billion in 2023.
  • Seven out of the top ten exporting nations experienced a decline in agricultural exports.
  • Only three countries in the top ten saw growth: Brazil (6%), European Union (5%), and Thailand (0.2%).
  • The EU remained the top exporter with $836 billion, followed by the US at $198 billion.
  • Brazil secured the third spot with $157 billion, while China held fourth place at $95 billion.
  • Other top ten exporters include Canada, Mexico, Indonesia, and Australia.

Factors Influencing India's Export Performance

  • Geopolitical issues significantly impacted global trade dynamics:
    • The ongoing Russia-Ukraine war
    • The Red Sea crisis
  • India implemented export bans on key agricultural products:
    • Wheat ban in May 2022
    • Non-basmati rice ban in July 2023
    • Sugar export ban in October 2023
  • These bans contributed to the overall decrease in agricultural exports.
  • The decline was largely observed in regulated commodities like rice, wheat, sugar, and onions.

WTO's New Trade Statistics Tool

  • The World Trade Organization introduced an interactive platform in its 2023 report.
  • This digital tool allows users to explore trends in world trade by value and volume.
  • Users can filter data by economy, region, selected grouping, product group, and services sector.
  • The platform provides key insights and trends related to WTO Trade Statistics 2023.
  • It enhances accessibility and analysis of international trade data.

Global Market Share and Trends

  • The top ten agricultural exporters collectively represented a 71.9% share in world exports in 2023.
  • Despite decreases, major players like the US and China maintained their positions.
  • Brazil showed strong growth, increasing exports from $148 billion in 2022 to $157 billion in 2023.
  • The EU strengthened its leading position, growing from $799 billion in 2022 to $836 billion in 2023.
  • Thailand, while not in the top three, managed slight growth in a challenging global environment.

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