EU-India trade rises by 20 percent

Irish Sun (IANS) Thursday 9th February, 2012

The 27-nation European Union's trade in goods with India has risen by 20 percent. It had reached a peak in 2010 after a decline recorded in 2009 that interrupted a period of growth since 2001, EuAsiaNews has reported.

The first 10 months of 2011 showed continued growth in EU trade with India. Exports and imports both grew by 20 percent between first 10 months of 2010 and the same period of 2011, with exports amounting to 33.4 bn euro and imports to 33.3 bn.

EU exports to India fell from 31.3 billion euro in 2008 to 27.4 bn in 2009. But it rose to 34.8 bn in 2010.

EU imports declined from 29.5 bn in 2008 to 25.4 bn in 2009. It increased to 33.2 bn in 2010.

As a result, the EU trade surplus with India had fallen from 2.0 bn euro in 2009 to 1.6 bn in 2010.

India is the EUs 8th most important trading partner.

On the occasion of the 12th European Union - India summit to be held Friday in New Delhi, Eurostat, the statistical office of the European Union, Thursday released the figures on trade and investments between India and the EU.