India’s total merchandise export for 2014 was valued at $321 billion against $314 billion in the previous year, a UNCTAD report on Tuesday said.
The report said international service exports accounted for 21 per cent of the total global exports (valued at just over $5 trillion) in 2014, a growth of almost 5 per cent over the previous year. The total global exports for 2014 stood at $24 trillion, up 1.2 per cent, compared with the previous year.
Services exports from both developed and developing economies grew strongly in 2014 at 5.3 per cent and 4.8 per cent, respectively.
While total exports from developed economies accounted for 55 per cent ($13.2 trillion) of the total global trade, developing economies constituted 41 per cent, with transition economies bringing in the residual $890 million, or 4 per cent.
“Growth in exports of food and agricultural raw materials from Africa and Asia in particular were strong (4.8 per cent and 3.7 per cent, respectively), as was the exports of manufactured goods from these regions (2.6 per cent and 4.6 per cent, respectively),” it said.
