India’s agriculture exports fell to $51 billion in 2023, yet it remains the 8th largest global exporter.
India maintained its position as the world’s eighth largest exporter of agricultural products in 2023, despite a decline in exports to $51 billion from $55 billion in 2022, according to WTO figures. This was amid a broader downturn among seven of the top ten exporting nations.
A WTO report highlighted that Brazil, the European Union (EU), and Thailand were the only top exporters to increase their agricultural exports by 6 percent, 5 percent, and 0.2 percent, respectively. Together, the top ten exporters accounted for 71.9 percent of global agricultural exports in 2023.
India’s export decline was mainly due to geopolitical issues such as the Red Sea crisis and the Russia-Ukraine war, significantly impacting regulated commodities like rice, wheat, sugar, and onions. India imposed bans on wheat exports in May 2022, non-basmati rice in July 2023, and sugar in October 2023.
The EU led global exports with $836 billion in 2023, up from $799 billion in 2022. The US, despite a drop to $198 billion from $222 billion, retained its second spot. Brazil’s exports rose to $157 billion, securing third place, while China was fourth with $95 billion, slightly down from $96 billion in 2022. Other top exporters included Canada, Mexico, Indonesia, and Australia.
The WTO’s World Trade Statistics 2023 introduced an interactive tool to present key data and trends, enabling users to filter information by economy, region, product group, and services sector.
