India’s share in global exports and imports increased from 0.7 per cent and 0.8 per cent respectively in 2000 to 1.7 per cent and 2.5 per cent in 2011 as per WTO.
During the period 2000-01 to 2011-12, Exports grew by 19.6 percent compounded annually while Imports grew by almost 23.5 percent during the period. Exports have followed the imports trend for most of the years in the period 2001 to 2012,
however it was only in the year 2011-12 that exports did not reciprocated with the growth rate of imports.
Exports growth decelerated to 28 percent in 2011-12 as against 35 percent in 2010-11 while Imports saw a persistently high growth rate of 39 percent for the year 2011-12. Hence, the trade deficit (Exports – Imports) stands highest for the year 2011-12.