WTO Report 2023: India Retains 8th Spot as Global Agricultural Exporter

Tags: INDEX

India retained its position as the world's 8th largest exporter of agricultural products in 2023.

An Overview of the News

• This ranking is according to the World Trade Organization (WTO)'s report titled "World Trade Statistical Review 2023".

• India's agricultural exports declined from USD 55 billion in 2022 to USD 51 billion in 2023.

Top 5 Global Agricultural Exporters

• 1st: European Union (EU) - USD 836 billion.

• 2nd: United States of America (USA) - USD 198 billion.

• 3rd: Brazil - USD 157 billion.

• 4th: China - USD 95 billion.

• 5th: Canada - USD 88 billion.

Overview of the "World Trade Statistical Review 2023"

• A new interactive tool that presents key data and trends for international merchandise and commercial services trade in 2023.

• The digital platform allows users to view trends by economy, region, product group, and services sector.

Reasons for Decline in India's Agricultural Exports

• Geopolitical factors such as the Red Sea crisis and the Russian-Ukraine war, affecting regulated commodities like rice, wheat, sugar, and onions.

• The Government of India's bans on wheat (May 2022), non-basmati rice (July 2023), and sugar (October 2023) exports contributed to the decline.

Important Points

• India Ranked 82nd Henley Passport Index July 2024 and 80th position in January 2024

• India Ranked 6th in Expat Insider 2024 Survey's

• India Ranked Fifth in GenAI Innovations

• India Ranked 72nd in the AI Preparedness Index 2024

• India Ranked 63rd in the Global Energy Transition Index 2024 

• India Ranked 3rd in the Global Unicorn Index 2024

• India Ranked 159th in the World Press Freedom Index 2024

• India Ranked 129th in the Global Gender Gap Index 2024

• India Ranked 39th in WEF's Travel and Tourism Development Index 2024

• India Ranked 126th in the World Happiness Report 2024