India held onto its position as the world’s eighth-largest exporter of agricultural products in 2023, despite a decline in exports from $55 billion in 2022 to $51 billion. This stability comes amid a general decrease in agricultural exports among seven of the top ten exporting nations.
Key Insights from WTO Trade Statistics 2023
The WTO’s Trade Statistics 2023 report highlights that only three countries among the top ten—Brazil, the European Union (EU), and Thailand—increased their agricultural exports in 2023. Brazil saw an increase of 6% to $157 billion, maintaining its third place, while the EU’s exports rose by 5% to $836 billion, preserving its top spot. Thailand’s exports grew by 0.2%, although it remains outside the top three.
Impact of Geopolitical Factors
India’s export decline can be attributed to geopolitical issues such as the Red Sea crisis and the ongoing Russia-Ukraine war, which affected global trade dynamics. Additionally, India imposed export bans on wheat (May 2022), non-basmati rice (July 2023), and sugar (October 2023), contributing to the overall decrease in agricultural exports.
Ranking of Other Top Exporters
The United States, despite a decrease to $198 billion, retained its second position. China, holding the fourth spot, saw a minor drop to $95 billion. Other countries in the top ten include Canada, Mexico, Indonesia, and Australia.
New Digital Tools for Trade Data
The WTO’s 2023 report introduces a new interactive platform for exploring international trade data. This tool enables users to view and analyze trends in world trade, both by value and volume, with options to filter by economy, region, and product group.
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