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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