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Enhanced global steel trade monitoring
Steel Exports Report: India
Background
India was the world’s ninth-largest steel exporter(2017). In 2018, India exported 10.6 million metric tons of steel, a 34 percent decrease from 15.9 million metric tons in 2017. India’s exports represented about 4 percent of all steel exported globally in 2017. The volume of India’s 2018 steel exports was under one-fifth the size of the world’s largest exporter, China. In value terms, steel represented 2.7 percent of the total amount of goods India exported in 2018.
India exports steel to more than 170 countries and territories. The countries highlighted in the map below represent the top 10 markets for India’s exports of steel and accounting for 63 percent of India’s steel exports in 2018.
Over the past decade, India has alternated between being a net steel importer and a net steel exporter. Imports and exports have displayed a roughly inverse relationship, as imports declined sharply in tandem with export growth. Since 2009, exports have increased by 101 percent, while imports have only increased 8 percent. Since 2017, India maintained a steel trade surplus. In 2018, the steel trade surplus stood at nearly 1.7 million metric tons.
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